BGA Senior Adviser Thitinan Pongsudhirak wrote an update to clients on Thailand’s recently concluded general election and what it means for businesses.

Context

  • Thailand’s widely anticipated general election took place on May 14 with much fanfare and without major incident. The opposition Move Forward and Pheu Thai parties together won resoundingly.
  • At issue now is what happens next. Constitutional procedures stipulate that the Election Commission has up to 60 days to certify results, followed by another month before the prime minister and his Cabinet come into place.

Significance

  • As the poll became a referendum on Prayut’s government and the broader military dominance in politics, the Thai electorate was loud and clear in rejecting military authoritarianism.
  • Move Forward’s Pita Limjaroenrat announced that he has the support of 309 members of Parliament among opposition parties out of the 500-strong lower house to form a government.

Implications

  • Despite continuing uncertainties, the looming change of government away from the Prayut-led regime will offer upside potential for business in Thailand on multiple fronts, from international standing to local governance and economic reforms.
  • All parties are in favor of foreign investment in Thailand, but Prayut’s coalition government has failed to put up a forward-looking view of where the Thai economy needs to go and how it should be upgraded.

We will continue to keep you updated on developments in Thailand as they occur. If you have any comments or questions, please contact BGA Senior Adviser Thitinan Pongsudhirak at thitinan@bowergroupasia.com.

Best regards,

BGA Thailand Team

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Senior Advisor

Thitinan is a renowned scholar, journalist and expert in international relations and domestic politics across Asia. He has spent more than three decades analyzing and advising on Thailand and the region’s political economy, geopolitics and policy. He helps BGA and clients understand in-depth the global, regional and domestic issues that affect business.  Thitinan is a professor of international relations and international political economy at Bangkok-based Chulalongkorn University’s Faculty of Political Science and a senior fellow at its Institute of Security and International Studies. He has lectured widely at local and international universities, military colleges and international organizations on political and ... Read More