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PM: Investor Confidence Strong After Finance Minister Resigns

Responding to concerns about the sudden resignation of Finance Minister Predee Daochai, Prime Minister Prayut Chan-o-cha has assured that it would not negatively impact the investor confidence. He also added that as the head of the economic team, he will do his best to bolster the economy.

Gen Prayut addressed the topic after Wednesday’s meeting of the Centre for Economic Situation Administration (CESA), and he added that he understood the health-based reasons for Mr Predee’s resignation.

Mr Predee made the announcement on Tuesday, shocking the entire country, as he took up the role less than a month ago. His resignation took effect yesterday.

“I assure you the government will still be able to work because regulations are in place to govern the running of the country,” Gen Prayut said. “The deputy prime minister in charge of the economy is still there to oversee the Finance Ministry. Don’t worry. As premier, I will also oversee everything.”

When reporters inquired if Mr Predee’s resignation would negatively affect investor confidence in the handling of financial matters by the government, the prime minister responded that the economic stimulus projects will still be implemented.

Since he is the head of the economic team, he has been working closely in collaboration with his cabinet ministers in order to seamlessly execute the projects.

“I’m still in charge. I can give instructions,” Gen Prayut said.

“Rest assured that we will still go ahead [with the projects] as before. Foreign investors will be welcome when Covid-19 eases.”

When enquired about the amount of time it would take to appoint a new finance minister, Gen Prayut said: “It will be done in a timely fashion.”

Deputy Prime Minister and Palang Pracharath Party (PPRP) leader Prawit Wongsuwon expressed that the party has no intention of interfering with the decision of choosing the new finance minister.

The rumours that a rift between Mr Santi and Mr Predee led to the resignation of the finance minister, were also dismissed.

According to these rumours, Mr Predee and Mr Santi could not agree upon a candidate to appoint as the new Excise Department director-general.

Eventually, Mr Predee’s nominated candidate, Fiscal Policy Office director Lavaron Sangsnit, was given the responsibility of holding the position.

Mr Santi dismissed these rumours and claimed that there were no conflicts between him and Mr Predee.