BANGKOK – The People’s Party, whose predecessor won Thailand’s last election, pledged to form a “government of change” as it set out sweeping reforms and plans to remedy the country’s ailing economy.
The party, backed largely by young and urban voters, unveiled 12 key agendas on Jan 11, including bureaucratic and regulatory overhaul aimed at stamping out corruption, infrastructure development, and restructuring law enforcement and the justice system.
The People’s Party is also seeking to galvanise Thailand’s lacklustre economic performance by pivoting towards manufacturing components for technologies like semiconductors as well as revitalising legacy industries.
It also identified agriculture, medical and space industries to help restore Thailand’s status as a regional “tiger” after years of the slowest growth among South-east Asia’s largest economies.
“If Thailand fails to recover within the next five years, the ‘Fifth Tiger’ will permanently fade into folklore,” Mr Veerayooth Kanchoochat, one of the party’s candidates for prime minister, told supporters at a campaign event.
He added that there is a narrow window for Thailand to reclaim that status, with no sector having been able to create growth momentum for the country since the success of the local auto industry.
The party also seeks to plug “black holes” in the economy within its first 100 days in office to boost competitiveness.
It said the prevalence of counterfeit goods, foreign price-dumping, and illegal foreign competition in protected industries has resulted in losses of one trillion baht (S$41 billion) to the nation’s US$500 billion (S$644 billion) economy each year.
To mobilise supporters, the party is seeking to build on its predecessor’s electoral successes by positioning itself as the agent of change in Thai politics, which has been dominated by a power struggle between the parties backed by billionaire populist ex-leader Thaksin Shinawatra and the military-royalist establishment that opposes him.
The People’s Party represents a major threat for the two camps, after its predecessor, Move Forward, won the last election in 2023.
Move Forward was blocked from power and then dissolved in 2024 by the Constitutional Court for trying to amend Thailand’s royal defamation law – a ruling that bars the newer party from campaigning on that issue.
While the People’s Party is widely tipped to again be the biggest winner in the Feb 8 vote, it remains unclear whether it will be able to form a coalition government with any of the other leading parties. Its reformist agenda has been criticised by opponents as too aggressive or disrespectful of traditional Thai values and institutions.
Still, party leader Natthaphong Ruengpanyawut
maintained his lead as the most preferred candidate
in the general election, according to the latest opinion poll, ahead of incumbent Prime Minister Anutin Charnvirakul.
“We have the political will. We have the right team and the right people, the policies and the plans ready for immediate action,” Mr Natthaphong told supporters in capital Bangkok, the party’s electoral stronghold. “It is time for a government of the people.” BLOOMBERG