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New Economic Team to Turn Economy Around 19 Aug 2015 at 12:22 New economic team to turn economy around 19 Aug 2015 at 12:22 Somkid Jatusripitak, deputy prime minister, finance minister & commerce minister in Thaksin Shinawatra's government, to head new economic team to turn economy around. Possible digital economy setbacks. ECONOMICS & POLITICS New economic team tipped for cabinet Ministers awaiting royal endorsement 19/08/2015 Post Reporters After Prime Minister Prayut Chan-o-cha yesterday submitted a new cabinet list for royal endorsement, it was confirmed that six economic ministers in five ministries are being replaced by a new team led by Somkid Jatusripitak, who will replace MR Pridiyathorn Devakula, say people familiar with the new line-up. Until Gen Prayut declared his intentions last week, speculation had run rife for two months about the possibility of a cabinet reshuffle, ever since the prime minister expressed frustration about slow economic improvement. SOMKID AS DEPUTY PRIME MINISTER It has been widely expected that Mr Somkid, an adviser to the prime minister, would become the new deputy prime minister replacing MR Pridiyathorn. Mr Somkid served as deputy prime minister, finance minister and commerce minister in Thaksin Shinawatra's government. Speculation over Mr Somkid's appointment was strengthened when he resigned as chairman of Saha Pathana Inter- Holding Plc yesterday. The law prohibits ministers from holding positions in any company in order to prevent conflicts of interest. NEW COMMERCE MINISTER A source said Suvit Maesincee, who also resigned yesterday as a board member of Siam Food Products Plc, would replace Deputy Commerce Minister Apiradi Tantraporn, who is now tipped to head the Commerce Ministry. Mr Suvit was a vice-minister under Mr Somkid when he was serving in the Thaksin government. Commerce Minister Chatchai Sarikulya, who is also a key member of the National Council for Peace and Order (NCPO), is reportedly being moved to another post. NEW FINANCE MINISTER Apisak Tantivorawong, who has been a candidate for finance minister since the beginning of this government, will now take up that position, replacing Sommai Phasee, a high-ranking official said. Mr Apisak also resigned yesterday as a board member at Quality Houses Plc. Kittiya Todhanakasem, a first senior executive vice-president of Krungthai Bank (KTB), said Mr Apisak, who is tipped to be the new finance minister, is suitable to rein in Thailand's economic slowdown. Given his capabilities and good morals, Mr Apisak is an excellent choice to help turn around the economy, she said. Mr Apisak was president of state-owned KTB for eight years before retiring in late 2012. Prior to taking the helm at KTB, he was president of Siam City Bank, which has since been integrated into Thanachart Bank. NEW INDUSTRY MINISTER Also, industry permanent secretary Atchaka Sibunruang will become the industry minister, replacing Chakramon Phasukvanich. Mrs Atchaka has served for decades on the Board of Investment (BOI) including as secretary-general before her appointment as permanent secretary. NEW TRANSPORT MINISTER Meanwhile, ACM Prajin Juntong, the transport minister and a key member of the NCPO, is also being removed and replaced by current Deputy Transport Minister Arkhom Termpittayapaisith. Mr Arkhom served as secretary-general of the National Economic and Social Development Board (NESDB) before being appointed as deputy transport minister. NEW ICT MINISTER Information and Communication Technology (ICT) Minister Pornchai Rujiprapa, meanwhile, is likely to be replaced by Bangkok University president Uttama Savanayana. Mr Pornchai has already acknowledged he will be replaced. DIGITAL ECONOMY SETBACKS The 13 digital economy committee members are expected to replaced in the upcoming cabinet reshuffle, so the projects planned which include a national broadband network, national data centres and digital economy bills, might well be delayed. (For more details, see here) http://www.bangkokpost.com/news/politics/660604/new-economic-team-tipped-for-cabinet http://www.bangkokpost.com/business/news/660600/digital-economy-panel-braced-for-impact-of-reshuffle Copyright © 1996 - 2015 The Post Publishing PLC.
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