Who is Srettha Thavisin, Thailand's property mogul and next prime minister?

Srettha Thavisin, formerly the chief of one of Thailand's largest real estate development firms, has ascended to the role of prime minister in an unexpected turn of events. Thavisin, 61, won a parliamentary vote on Tuesday (Aug 22) to assume the country's highest office, ending weeks of political deadlock after the elections.

This coincided with the return of Thaksin Shinawatra, the founder of Thavisin's populist Pheu Thai Party, to Thailand after 15 years of self-imposed exile, only to beimprisoned.

Following the vote, Thavisin expressed his gratitude to the Thai people and conveyed his sense of honour at being elected as prime minister. While he beamed with optimism, he refrained from answering questions until royal confirmation of his election was received, a customary practice in Thailand.

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A tactical alliance

Tuesday's vote for Thavisin's premiership received critical support from pro-military members of parliament, effectively sidelining the progressive Move Forward Party, which had emerged as the largest single party in the recent elections.

The conservative establishment views Thavisinand his Pheu Thai Party as a more acceptable option, prompting an unlikely alliance with former political adversaries aligned with pro-military factions.

Together, they seek to govern Southeast Asia's second-largest economy.

Business background of the new Thai PM

Srettha Thavisin, a suave businessman with no prior administrative experience, was initially presented as a Pheu Thai prime ministerial candidate due to his business acumen.

His family's deep connections in the business elite paved the way for his career, which began at the Thailand division of Procter & Gamble after earning economics and management degrees in the United States.

In 1990, alongside some cousins, he co-founded Sansiri, a property development company that grew to become one of Thailand's largest.

In 2022, Sansiri posted impressive revenues and profits, leading to an over eight per centsurge in its stock on the day of Srettha's election.

Despite his success, Thavisin's journey to power has not been without controversy. Allegations of wrongdoing in two land deals during his tenure at Sansiri surfaced earlier this month, claims that both Sansiri and Thavisinvehemently denied.

Also watch |Thailand gets its 30th Prime Minister as Srettha Thavisin elected as new PM

The 'outsider' politician

Thavisin's transition from business to politics echoes that of Thaksin Shinawatra, who transitioned from the telecommunications industry to become a prominent political figure.

Unlike many seasoned politicians, Thavisin's relative political inexperience has both advantages and potential disadvantages.

(With inputs from agencies)

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