Upcoming Elections Pose New Challenges for Prayut Chan-o-cha
Last updated on April 16th, 2019
Prime Minister of Thailand, Prayut Chan-o-cha, is looking forward to winning the upcoming elections again as he is backed by the Thai military junta. Often seen with a strict stance, the leader has shown his softer sides during the speculations of running in the election again.
In the upcoming elections, the vision of the party is to provide economic and transport development to help Thailand’s economy achieve new heights.
Prayut Chan-o-cha has been behaving as a politician lately by interacting with villagers and spending time with the farmers.
The economic plan of the country depends entirely on 1.7 trillion baht. It also needs a motivation to inculcate competitiveness in the economy affected by low business confidence and investment.
The elections would be taking place on 24th March and Prayut Chan-o-cha is hopeful of returning as the prime minister once again with the help of 250 member council by junta. The council will vote on the prime minister with 500 members of the lower house of the parliament.
The economic instability has been adversely affecting the competitiveness and investment of country since junta came in to the power.
Somprawin Manprasert, the chief economist at Bank of Ayudhya, said “Improving national competitiveness is super urgent, as Thailand can ill-afford another period of lagging behind from political disorder. I believe we’ve bottomed out as people realise we need to improve productivity.”
Thailand has seen the biggest fall of 10 ranks on the World Economic Forum’s global competitive index since 2007 to rank 38 out of 140 countries. As per the International Monetary Fund data, the growth of the country is expected to dangle the average as it reached 3.9% in 2019 as compared to 5.2% for the region.
A net $700 million from Thai stock and bond markets have been pulled out by the foreign investors this year. This has happened in between of political scene at the same time during extended increased rise of currency. This rise is affecting the key elements of the Thai economy, tourism and exports.
The $54-billion Eastern Economic Corridor project of Prayut Chan-o-cha is the showcase of his efforts to bridge the economic difference and to provide development in transport, businesses and skills by 2021. The project will be passing through an already industrialized part of the Eastern Seaboard connected with traditional automotive and electronic parts exporters.
His efforts have also made Thailand one out of 10 of the most improved nations in the World Bank’s Doing Business 2018 rankings as it competes with neighboring countries, like Vietnam for investment.
Another party – which is a contender – is Pheu Thai, the biggest party in the lower house, which is against the prevailing control of the military in politics. The opposition is famous among the rural poor and linked to Thaksin the former prime minister of the country.
Tension increased earlier after Thai Raksa Chart got dissolved. This dissolution damaged the election strategy of the Pheu Thai-led alliance.
The early voting on Sunday provided many challenges like long queues and high waiting time to cast ballots.
With the turmoil in politics and economy of the country adversely affected, the after effects of the elections are yet to be seen. It is clear that the winning party would face many challenges to improve the political and economic situation of the country.
Prayut Chan-o-cha would certainly be willing to go through any means to re-gain the power and position in the country, as the elections in the country after military coup have its own risks.
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