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Srettha Thavisin (, , ; born 15 February 1962) is a Thai businessman and former politician who served as the 30th Prime Minister of Thailand from 2023 ประกาศแต่งตั้งนายกรัฐมนตรี ลงวันที่ 22 สิงหาคม 2566 ราชกิจจานุเบกษา เล่ม ๑๔๐ ตอนพิเศษ ๒๐๑ ง หน้า ๑ วันที่ ๒๓ สิงหาคม พ.ศ. ๒๕๖๖ until his dismissal from the position by the Constitutional Court on 14 August 2024. In 1988, he co-founded Sansiri, a venture that propelled him to become a billionaire and a leading real estate tycoon within his country.
During his almost one-year premiership, he oversaw economic policies aimed at stimulating the Thai economy, particularly in Thailand's tourism sector by promoting Thai soft power. He also attempted to implement the digital wallet scheme and his international visits were aimed at attracting investors. Srettha was however labelled as a "puppet" under the control of powers behind the throne by critics. His appointment of Pichit Chuenban to his Srettha cabinet led to his dismissal by the courts in August 2024.
Srettha attended primary school at of Srinakharinwirot University in Bangkok, then moved to the United States for secondary school. Srettha attended Bloxham School from 1979-1981. He graduated Bachelor of Arts in Economics from the University of Massachusetts Amherst. He further advanced his academic credentials by earning a Master of Business Administration, specialising in Finance, from Claremont Graduate University.
In 2013, Prime Minister Yingluck Shinawatra inaugurating the Thailand 2020: Thailand's New Step to the World Expo at the Chaeng Watthana government complex on 12 March. The expo showcased the government's proposed ฿2 trillion investments. Srettha, having inspected a nearby residential project, visited the expo and recommended that his Sansiri colleagues do the same, recognising its potential influence on the real estate sector. Despite public concerns about the project's financing and potential debt implications, Srettha expressed his support. In early 2019, he wrote favourably about the 2020 Expo, which paralleled his advocacy for a digital wallet scheme during his tenure as prime minister.
Srettha's leadership at Sansiri contributed to the company's growth, including during the COVID-19 pandemic. In 2020, he acquired a land parcel at the corner of Sarasin road near Lumphini Park in Bangkok. The purchase costed ฿3.9 million per square wah (approximately 4m²), and is one of the most expensive land purchases in Thai history. Additionally, in the same year, Srettha acquired a 15% stake in XSpring Capital Public Company Limited.
His business career was put on hold when he decided to engage in electoral politics in 2023. Due to regulations in Thai electoral laws prohibiting elected officials from owning or holding shares in companies, Srettha transferred all his shares to his daughter, Chanada Thavisin, on 8 March 2023. This transfer included his shares in Sansiri, representing 4.4% of the company.
On 17 August 2023, Chuwit Kamolvisit filed a complaint with the deputy commissioner-general of police, Surachate Hakparn, seeking an investigation into Srettha's 2019 land purchase in Bangkok. Chuwit accused Srettha and Sansiri of tax evasion. In response to these allegations, Srettha filed a defamation lawsuit for ฿500 million against Chuwit, specifically regarding comments made during a press conference on 3 August.
Srettha maintained political connections with Thaksin Shinawatra and Yingluck Shinawatra, who have both served as prime ministers. In the 2023 Thai general election, he was amongst the prime ministerial candidates for the Pheu Thai Party. The other candidates from the party included Thaksin's youngest daughter, Paetongtarn Shinawatra, and Chaikasem Nitisiri, a former justice minister.
Srettha launched his campaign in Bangkok's Khlong Toei district and delivered his inaugural campaign speech in Phichit province. Later, during a speech in Loei province in mid-April, he stated that Pheu Thai would not consider forming a coalition with Palang Pracharath and United Thai Nation, citing their roles in the 2014 coup.
Following the election on 14 May, Pheu Thai emerged as the party with the second-highest number of seats, trailing behind the Move Forward Party. The party then formed a coalition with Move Forward and six other parties. However, in the first round of parliamentary voting on 13 July, Pita Limjaroenrat, Leader of the Move Forward Party, failed to secure enough votes. Subsequently, Pita's second nomination for prime minister was blocked on 19 July on procedural grounds.
After Move Forward failed to form a government, it gave way for Pheu Thai to attempt to form one. This coalition initially only excluded the Move Forward Party, but expanded on 7 August to include the Bhumjaithai Party. In a notable shift from their earlier election stance, the coalition further expanded to incorporate the Palang Pracharath Party and United Thai Nation Party. Srettha described this expansion, which contradicted earlier election promises, as a necessary strategic move.
Subsequently, the Constitutional Court dismissed a petition by the ombudsman questioning the constitutionality of Parliament's rejection of Pita Limjaroenrat. A new round of parliamentary voting was scheduled for 22 August. During this session, Srettha delivered a speech to Parliament, outlining his vision and goals should he become prime minister, and also responded to questions from MPs and senators. His candidacy received support from Thaksin Shinawatra.
Srettha was elected as the 30th Prime Minister of Thailand, following a nomination by the Pheu Thai Party. In a special joint sitting of the House of Representatives and the Senate, he secured 482 votes out of 728.
On 5 September, Srettha was sworn in as prime minister and minister of finance by the King. The ceremony took place at the Amphorn Sathan Residential Hall in Dusit Palace, Bangkok. The new cabinet formed by Srettha was composed of 34 ministers representing six parties within the governing coalition. This included several ministers who had served under the previous administration of Prayut Chan-o-cha.
Srettha stepped down as finance minister in April 2024 during a cabinet reshuffle. He was succeeded by his advisor and former energy executive, Pichai Chunhavajira.
In Khon Kaen, he visited included the Ubol Ratana Dam, a site experiencing drought conditions. Srettha communicated to the media that agriculture was a key priority for his government, emphasising plans to enhance agricultural productivity in the region, with a specific goal of increasing farmers' yields by 50%. In Nong Khai, his discussions centred on shipping relations between Thailand and China.
Srettha described the economy as being in a "crisis." He highlighted that the highest interest rates in a decade were detrimental to businesses and advocated for the Bank of Thailand to reduce these rates.
The Governor of the Bank of Thailand held a different view. He disagreed with the characterisation of the economic state as a crisis. Furthermore, he expressed scepticism about the effectiveness of the government's short-term stimulus measures and argued that these measures would not address the underlying economic challenges, emphasising that structural issues were the main impediments to growth.
Srettha advocated for a 25-basis point interest rate cut from the BoT's Monetary Policy Committee (MPC). However, the MPC, in a 5–2 decision, maintained the one-day repurchase rate at 2.50%, the highest in over a decade. The central bank attributed the decision to slower-than-expected economic growth, emphasising reliance on domestic demand. Structural impediments, particularly declining competitiveness, were identified as factors hampering growth. Despite Srettha's disagreement with the Bank's actions, he advocated for collaborative fiscal and monetary policies, emphasizing his lack of authority to interfere with the central bank's decisions.
This infrastructure project received cabinet approval on 16 October. During his subsequent visits to the United States for the APEC summit and to Beijing for the 2023 Belt and Road Forum, Prime Minister Srettha sought investment from both American and Chinese entities to support the development.
The land bridge project elicited significant concerns and criticism from the local population. Srettha acknowledged that the Srettha cabinet's communication with international investors about the project's economic potential could have been more effective. He also The land bridge project elicited significant concerns and criticism from the local population. Srettha noted that the government had not succeeded in gaining the trust of the Thai people regarding this ambitious project, highlighting a disconnect between the project's intentions and public perception. He also acknowledged that the Srettha cabinet's communication with international investors about the project's economic potential could have been more effective.
On 17 October, the cabinet approved an extension of the visa-free stay for Russian tourists from 30 to 90 days. This decision was timed with the onset of the Russian winter season and coincided with the peak tourism period in Thailand. Russia ranks as the fifth highest in terms of visitors to Thailand, and the highest from Europe. The extended visa policy for Russians is set to begin in November and last until April 2024. This extension was announced in conjunction with a meeting between Srettha and Russian President Vladimir Putin.
Further extending Thailand's visa exemption policy, Indian and Taiwanese travellers were also granted visa-free entry from 10 November 2023 to 10 May 2024. India is the fourth largest source of tourists to Thailand.
As a culmination of these visa exemptions and the gradual post-pandemic opening of its borders, flight arrivals for the high season had recovered to more than 80% of the levels seen in 2019.
On 16 February at the iBusiness Forum in Bangkok, Srettha was informed by the Anschutz Entertainment Group that the reason Taylor Swift was not going to perform in Thailand was because of a deal with Singapore where she agreed not to schedule any Eras Tour concerts in ASEAN countries other than Singapore. In response, Srettha pledged to support making Thailand a regional hub for concerts.
On 14 February, Australian Governor-General David Hurley agreed to consider the possibility of a mutual visa exemption scheme between Thailand and Australia during his visit.
Srettha, following his election, maintained support for this policy, while acknowledging its controversial nature. Pheu Thai has described the initiative as vital for jumpstarting the Thai economy, with a commitment from Srettha's government to consider public feedback on the policy.
Concerns have been raised by various economic experts, including those from the Bank of Thailand. These criticisms focus on the potential long-term consequences for Thailand's economic future. Korn Chatikavanij, a former Finance Minister under Abhisit Vejjajiva's administration during the Great Recession, has also expressed scepticism about the plan, particularly noting its lack of specific details.
An ad-hoc committee has been established to flesh out the scheme. During a visit to Phitsanulok province on 15 October 2023, Srettha announced the intention to start implementing this scheme in February 2024. However, the launch of the digital wallet scheme was postponed to May 2024. Since September, Srettha also advocated for a reduction in electricity and fuel costs within his cabinet.
In terms of public reception, a survey conducted by the National Institute of Development Administration (NIDA) indicated mixed responses. As of October 2023, the survey showed that the efforts of the Prime Minister's cabinet had "somewhat satisfied" 55% of respondents, while 40% expressed dissatisfaction.
On 10 November 2023, Srettha announced plans to borrow ฿500 billion to support the digital wallet scheme. This decision marked a significant shift from the government's initial strategy, which involved funding the program through the annual budget or loans from the Government Savings Bank. The announcement was met with widespread criticism, highlighting a departure from previously stated financial approaches.
In January 2024, Deputy Finance Minister Julapun Amornvivat indicated that the implementation of the scheme might be postponed beyond May. Despite ongoing scepticism about the program, Srettha maintained that the government had sufficient data to demonstrate the program's effectiveness and value. Srettha had expressed his intention to expedite discussions with Deputy Finance Minister Julapun Amornvivat.
On 15 July 2024 Srettha announced that eligible businesses and individuals can register for the program beginning in August.
Since the beginning of the Srettha government, the electric vehicle market in Thailand has experienced significant growth. This progress led to the China Automotive Technology and Research Center (CATARC) setting up its regional automaking hub in Thailand. Additionally, in January 2024, Thailand identified two major lithium deposits in Phang Nga with a high concentration of lithium. Experts from Chulalongkorn University have assessed that the average lithium content in these deposits, approximately 0.4%, is higher than similar deposits found globally. Nevertheless, there has been some debate among scientists and government officials regarding the potential impact of this discovery, particularly due to variations between the types of mineral resources present, including lepidolite, a lithium-containing mineral, and the actual lithium content in these deposits.
Following these events, a comprehensive national crackdown was undertaken. By 12 October, this operation resulted in the seizure of over 2,000 illegal firearms, approximately 75,000 rounds of ammunition, and led to 1,593 arrests. Additionally, the Interior Minister suspended the trade and importation of firearms, including suspending the issuance of new firearm permits.
Following the sinking of the Thai corvette HTMS Sukhothai on 18 December 2022, the Joint United States Military Advisory Group Thailand (JUSMAGTHAI) reached out to the Royal Thai Navy (RTN) to express its concerns. However, there was no response from Thailand to this communication. On 1 December of the same year, JUSMAGTHAI sent a second letter in response to reports that a Thai contractor, who was collaborating with China, had been chosen to salvage the vessel. Despite the bid from the winning company still awaiting approval, RTN Chief Admiral Adung Phan-iam expressed concerns about potential delays beyond April if the U.S. became involved. In response to two warnings from the U.S., and to comply with their agreement, the RTN cancelled the tender that was to be awarded to a firm using equipment from China.
On 6 October 2023, Srettha attended the ESG (Environmental-Social-Governance) Symposium 2023: Accelerating Changes towards a Low Carbon Society at the Queen Sirikit National Convention Center. Here, he shared his vision for a sustainable economy, emphasising grassroots participation, human rights, equality, and climate change initiatives.
Srettha also participated in the Sustainability Forum 2024 in Bangkok, where he discussed Thailand's role in sustainable development globally. He expressed a commitment to reducing electricity costs and highlighted the importance of household solar initiatives.
On 29 November 2023, he led a meeting in Chiang Mai focusing on the region's environmental issues, including forest fires, smog, and PM 2.5 pollution. Later, on 11 January 2024, during another visit to Chiang Mai, he endorsed the Clean Air bill. He noted an improvement in the air quality in Chiang Mai compared to the previous year.
However, the Chiang Mai Administrative Court ruled against the Prime Minister and the National Environment Board. The court's decision centred on their failure to adequately address the PM 2.5 haze issue in the North the previous year. Srettha would convene a meeting of government officials to comply with the court order.
Srettha also made his debut speech at the 78th session of the United Nations General Assembly in New York on 22 September. His speech emphasised Thailand's desire to collaborate with other nations and to strengthen its democracy. On the same day, he met with executives from the New York Stock Exchange, discussing the economic policies of his government. He concluded his visit by participating in the traditional bell-ringing ceremony to commence the trading session.
Furthermore, Srettha actively led Thailand's effort to become the Association of Southeast Asian Nations (ASEAN) candidate for the 2025 to 2027 term on the United Nations Human Rights Council.
On 9 October, he began his visit to Hong Kong, where he met with John Lee Ka-chiu, the Chief Executive of Hong Kong. His trip to Hong Kong is part of a tour to encourage investment in Thailand. Then on 10 October, Srettha visited Brunei and was received by Sultan Hassanal Bolkiah at the Istana Nurul Iman palace, and both spoke of closer Brunei-Thailand relations. They also spoke of the two countries' cooperation in food security, where Thailand plans to increase its food exports to Brunei. He then flew to Kuala Lumpur to hold bilateral talks with Malaysia, where he discussed bilaterial relations on investment, trade, food, tourism and security with Malaysia's Prime minister Anwar Ibrahim, as well as securing Thai hostages taken by Hamas. On 12 October, he then visited Singapore where he discussed renewable energy, investment and food security with Prime-minister Lee Hsien Loong. Srettha visited China from 16 to 19 October, where he attended the Belt and Road Forum for International Cooperation in Beijing. On the sidelines of the forum on 17 October, he met with the President of Russia, Vladimir Putin. Together they discussed boosting trade and cultural ties between Russia and Thailand. Srettha then invited Putin to visit Thailand in 2024, saying "President Putin likes Phuket, I understand he travels often." According to the Bangkok Post, the invitation was accepted by Putin. Thailand is not a ratified signatory of the Rome Statute of the International Criminal Court and is not obliged to arrest Putin following the arrest warrant issued by the ICC on 17 March 2023.
During his visit to Laos on 29 October, Srettha participated in discussions focused on enhancing bilateral trade between Laos and Thailand, with an objective to reach US$11 billion by 2025. In addition to trade, a significant aspect of this collaboration involves infrastructure development, particularly in transportation. A key project is the construction of a new railway across the Mekong, anticipated to be completed by at least 2026. Complementing this endeavour, Srettha and Lao Prime Minister Sonexay Siphandone inaugurated the Khamsavath station, a crucial component of a new railway line extending to Nong Khai. This new line is expected to be operational by 2024, further facilitating cross-border connectivity. In line with Srettha's administration's strategy to enhance bilateral relations and cooperation with Laos, a memorandum of understanding was signed focusing on technical assistance for the development of Laos' railway system. Alongside this, Srettha indicated an interest in increasing the purchase of clean energy from Laos. Furthermore, the two countries agreed to construct a sixth friendship bridge, further solidifying their collaborative efforts.
During his official visit to Japan from 14 to 18 December, Srettha participated in the ASEAN-Japan Commemorative Summit. To boost business relations, he temporarily waived visa requirements for Japanese business travellers. Discussions with the Japanese Government included a focus on strengthening cooperation between Thailand and Japan. Srettha expressed support for initiatives like the Asia Zero Emission Community (AZEC) and the Strategic Programme for ASEAN Climate and Environment. He also conveyed Thailand's readiness to play a leading role in ensuring peace in Myanmar, considering its geographical proximity. In a separate meeting with Japanese Prime Minister Fumio Kishida, the dialogue centred around potential collaboration in the electric vehicle sector. This discussion was a continuation of both leaders' previous expressions of intent to deepen bilateral ties, as stated during their meeting a month earlier in San Francisco. During the 2024 World Economic Forum conference held from 15 to 19 January in Davos, Switzerland, Srettha represented his government to promote the land bridge mega project. He was joined by Transport Minister Suriya Jungrungruangkit and Foreign Minister Parnpree Bahiddha-Nukara. On 17 January, Srettha introduced the concept of 'Seamless ASEAN', envisioning it as a unified tourist destination achievable within the next 5 to 10 years. Srettha's engagements in Davos included a discussion with the Adani Group, during which he shared on social media that the group showed significant interest in the project. Additionally, he held a separate meeting with Microsoft co-founder Bill Gates, where they explored the possibility of establishing a Microsoft data center in Thailand. Another notable meeting was with Sultan Ahmed bin Sulayem, the chairman and CEO of DP World (DP World). Srettha reported that the CEO of DP World expressed a keen interest in the land bridge project and committed to sending representatives to Thailand for further discussions and location scouting. Upon returning to Thailand, Srettha described the meetings and interactions at the conference as successful, indicating positive international response to his government's initiatives.
On 25 January 2024, Srettha welcomed Frank-Walter Steinmeier, the President of Germany, marking a significant occasion in his administration. This visit was notable as it was the first time in 22 years that the German President visited Thailand. The visit, spanning from 24 to 26 January, focused on key issues such as trade, investment, climate change, and vocational education. During this visit, President Steinmeier commended the Thai civilian government for its efforts in bolstering the democratic process in Thailand. He acknowledged that while substantial changes could not be expected so soon into the administration, the initial developments were promising. Furthermore, President Steinmeier expressed a commitment to enhancing investments in Thailand's electric vehicle industry, suggesting that Thailand could become a regional hub for this sector.
Srettha participated in the Independence Day celebrations at Galle Face Green in Colombo, Sri Lanka, on 4 February 2024. The visit was a response to Sri Lanka seeking Thailand's assistance in revitalizing its economy amid a challenging period. The state visit culminated when the two nations signed a Free Trade Agreement (FTA). As a State visit alongside Sri Lankan President Ranil Wickremesinghe, they finalized a Free Trade Agreement (FTA) aimed at fostering economic cooperation. The FTA, replacing a prior agreement from 1950, focuses on reducing trade barriers and fostering collaboration in air services. Anticipated benefits for Thailand include enhanced exports of automotive parts, textiles, electrical appliances, machinery, steel products, paper, processed food, and animal feed. Additionally, a Memorandum of Understanding (MoU) was signed to facilitate collaboration between the National Gem and Jewellery Authority of Thailand and The Gem and Jewellery Research and Training Institute of Sri Lanka. Upon returning to Thailand, Srettha held discussions with the CEO and board chairman of PTT, encouraging their support for Thai startups and investment in Sri Lanka's floating solar farm.
On 7 February 2024, Cambodian Prime Minister Hun Manet visited Thailand for official discussions encompassing transport, trade, investment, and the long-stalled joint development of natural resources within their disputed maritime boundary. This marked Hun Manet's inaugural visit as the country's leader, aiming to strengthen the longstanding ties between the two nations. Srettha actively engaged in the bilateral talks, emphasising Thailand's commitment to ensuring fair treatment and an adequate economic safety net for Cambodian workers in the country. Notably, recent events revealed the detention of Cambodian opposition figures and government critics in Bangkok, who had sought refuge in Thailand to evade arrest under Hun Sen's government, potentially indicating efforts to prevent protests against Hun Manet. Manet expressed gratitude to Srettha for preventing Thailand from being used as a base for external interference in his country's affairs. In a joint press conference, both Srettha and Manet announced their shared objective to increase bilateral trade value from 8 billion baht in 2023 to 15 billion baht by the following year. Given Thailand's reliance on imported energy, there was a keen interest in negotiating a deal with Cambodia to develop a disputed zone in the Gulf of Thailand, believed to harbor significant natural gas and oil deposits totalling around 11 trillion cubic feet. In addition, Hun Manet planned to meet with King Vajiralongkorn and participate in a Thailand-Cambodia business forum. Thailand and Cambodia signed five Memoranda of Understanding.
Pichit resigned on 21 May. On 14 August, the constitutional court dismissed Srettha for gross ethics violations. Srettha is the fourth Thai premier in 16 years to be removed by the courts. Srettha expressed surprise over the decision, but said that he would "respect" it.
In terms of social issues, Srettha is identified as a liberal. He has expressed opposition to conscription and has been an advocate for environmental sustainability and LGBTQ rights. Despite these progressive stances, Srettha showed reluctance to propose changes to the lèse-majesté laws (which criminalize defamation, insults, and threats to the monarch of Thailand), a decision attributed to maintaining support within the coalition government formed by Pheu Thai with other parties. He also moved to recriminalise cannabis in 2024.
Srettha is married to Pakpilai Thavisin, a businesswoman. They have two sons, Napat Thavisin and Warat Thavisin, and one daughter, Chananda Thavisin. His mother, Chodchoy, died on 21 July 2024. Her funeral was granted royal-sponsored bathing rites by King Vajiralongkorn on 30 July and was held on 6 August.
He is a collector of classic travel trunks, such as those made by Louis Vuitton. Srettha also is a supporter of Liverpool F.C., and also contributes to Sansiri Academy which trains football players in Thailand. Srettha frequently uses social media, especially on Twitter where he actively uses his account to post updates.
On 28 December 2023, the NACC revealed that he had a wealth valued around ฿659 million, and that he owns a 1963 Aston Martin DB5 worth ฿50 million. His yearly earnings were around ฿153 million.
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