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Billionaire heiress from Thailand’s political dynasty poised to become PM

by August 16, 2024
written by August 16, 2024

Thailand’s parliament has appointed Paetongtarn Shinawatra, the daughter of billionaire tycoon and former prime minister Thaksin Shinawatra, as the country’s new prime minister.

At 37, Paetongtarn will be the youngest person to hold the office in Thailand’s history, and only the second woman to do so, following her aunt Yingluck Shinawatra.

Paetongtarn’s selection follows the dismissal of former Prime Minister Srettha Thavisin by the Constitutional Court on Wednesday, when the court ruled against him for appointing a former lawyer who had previously served jail time to his cabinet.

This court decision cleared the way for Paetongtarn’s appointment, which was confirmed by a parliamentary vote on Friday. Paetongtarn received 319 votes in favor and 145 against, underscoring a clear, albeit divided, support for her leadership.

Both Paetongtarn and Thavisin hail from the Pheu Thai Party, which finished second in the 2023 general election but managed to form a ruling coalition.

Paetongtarn’s election marks a significant shift in Thailand’s political landscape, with the Pheu Thai Party once again at the helm of the government.

Challenges for Paetongtarn as Thailand’s youngest leader

Paetongtarn faces the challenging task of revitalizing Thailand’s economy, which has struggled in recent years.

Her role also involves navigating a complex political environment marked by previous military coups and judicial interventions that have toppled several administrations led by her party.

In her initial remarks following the vote, Paetongtarn expressed her commitment to improving the quality of life for all Thais and building confidence in the government.

I really hope that I can make people feel confident that we can build opportunities and improve the quality of life and empower all Thais.

She appeared emotional and acknowledged her own limitations, saying she might not be the “best” or “most talented” but was determined and supported by a capable team.

Paetongtarn is the fourth Shinawatra to be Thailand’s PM

Paetongtarn is the fourth member of the Shinawatra family to hold the prime ministerial office over the past two decades.

Her father, Thaksin, and her aunt, Yingluck, both experienced abrupt ends to their terms through military coups or court rulings.

The Shinawatra family’s political influence remains significant in Thailand, and Paetongtarn’s rise could potentially alter the party’s fortunes.

Paetongtarn’s appointment brings a fresh perspective to Thailand’s leadership.

Educated in Thailand and the UK, she has spent years working with the family’s Rende hotel group, where her husband is the deputy chief investment officer. She joined the Pheu Thai Party in 2021 and was named party leader in October 2023.

Thaksin’s return and influence in politics

Thaksin Shinawatra, who first served as prime minister in 2001, returned to Thailand in October 2023 after 15 years in exile.

His return was part of a strategic agreement with his former political adversaries, who are now in coalition with Pheu Thai.

Thaksin’s return and his recent encouragement of Paetongtarn suggest a continued influence of the Shinawatra family in shaping Thailand’s political future.

The post Billionaire heiress from Thailand’s political dynasty poised to become PM appeared first on Invezz

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