National elections set for 14 May

Democratic traditions continue to deepen in Thailand as the House of Representatives was dissolved last week to pave the way for the first national elections since 2019, with voting scheduled for 14 May 2023. Business leaders reacted positively to it.
The dissolution was widely anticipated. Prime Minister Prayut Chan-o-cha’s term was winding down and ruling party politicians had been signaling for weeks that the move was imminent. Leading figures from several parties have already been informally campaigning throughout the country.
Gauging who will come to power after the polls is a challenge as dozens of politicians have switched parties, while forming a new government often involves stitching together a coalition of several parties.
Most analysts and observers do not expect any significant shifts in macro-economic and investment policies, because all political parties are business friendly and eager for more foreign investment in the Kingdom.
Sanan Angubolkul, Chairman of the Thai Chamber of Commerce, said that with an election date set, the public and private sectors, as well as foreign investors, should have higher confidence leading to clearer trends for Thailand’s economic development.
He also said that the business community would like to see the quick and smooth formation of a new government, since it will facilitate budget disbursement and help the economy.
Prime Minister Prayut, when asked by reporters if he was satisfied with his government’s performance during the past four years, responded that he was proud of having launched projects and policies, such as the Eastern Economic Corridor (EEC), that would benefit the whole country. He added that he has worked with opposition parties on several initiatives.
“I cannot give you an exact answer. You must also ask the people whether they are satisfied [with the government’s performance] or not,” Prayut told reporters.