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(Bloomberg) — Thai Prime Minister Anutin Charnvirakul is close to forming the country’s new government after a period of political turmoil that saw a minority coalition sideline the influential Shinawatra dynasty.
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A lineup for his first cabinet has been finalized and will be submitted for royal endorsement later on Tuesday, Anutin told reporters in brief remarks as he left the Government House. He has previously unveiled key cabinet positions, including senior bureaucrat Ekniti Nitithanprapas as finance minister.
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Read: New Thai PM’s Seasoned Cabinet Picks May Reassure Investors
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The move will come nearly two weeks after Anutin was elected by parliament to be the country’s third new prime minister in two years, capping a bout of political instability. He has promised to lead an interim minority government for only four months before calling for a fresh election, under an agreement with the reformist People’s Party that offered to back his bid for prime minister without joining the coalition.
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Anutin, leader of the conservative Bhumjaithai Party, succeeded Paetongtarn Shinawatra, who was ousted by the Constitutional Court for an ethical breach last month over the handling of a border dispute with Cambodia. Anutin’s bloc now consists of pro-military and conservative parties that previously backed Paetongtarn, while her Pheu Thai Party was pushed to the opposition.
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Once they are royally endorsed, members of the new cabinet will be sworn in by King Maha Vajiralongkorn before officially assuming their duties. Anutin will then present a policy statement to parliament, a move that will trigger the four-month countdown for him to dissolve the elected lower house and call a new election.
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Among Anutin’s picks, Suphajee Suthumpun, former chief executive of hotel operator Dusit Thani Pcl, was named commerce minister. Auttapol Rerkpiboon, a former chief executive of energy giant PTT Pcl, will be energy minister. Veteran diplomat Sihasak Phuangketkeow has been chosen as foreign minister.
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His new government will focus on resolving economic issues such as the high cost of living and elevated household debt levels, according to Anutin. He plans to take steps to peacefully resolve the Thai-Cambodian border dispute, without losing any more lives and while protecting the country’s sovereignty, he said.
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Anutin’s technocrat-packed cabinet lineup has helped boost investor confidence, after political instability cast uncertainty over policy direction. However, economists noted that Anutin’s ability to focus on economic policy may be limited due to time constraints and his party’s minority status in parliament.
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