Veteran economist Supavud takes over as the new chairman of NESDC
Veteran economist Supavud Saicheua has been named new chairman of the National Economic and Social Development Council (NESDC), a government socio-economic advisory agency.
His appointment, after royal endorsement, along with names of 11 new NESDC board members was published in the Royal Gazette on Thursday and announced on Friday. They will replace the previous chairman and board members who had completed their term.
Supavud, 67, graduated with a bachelor's degree in economics from Victoria University in New Zealand, before getting a master’s and a PhD in the same field from University of the Philippines and Hawaii University, respectively.
A former director at Phatra Securities Pcl and independent director at Loxley Plc, Supavud was among individuals rumoured to be in the running to take over as finance minister from Prime Minister Srettha Thavisin. The PM, however, chose Pichai Chunhavajira, former chairman of the Stock Exchange of Thailand, for the post.
The NESDC’s main responsibility is to establish the framework for the economic and social development of the country in line with national strategies and the current economic and social situations, both domestically and globally. This includes drafting a national economic and social development plan.
The council also provides advice and opinions on driving economic and social development, including proposing additional amendments or improvements to laws, regulations, or policies affecting economic and social development in various aspects, to the PM or the Cabinet.
In fiscal year 2024, the NESDC approved investment plans of 46 state enterprises under 15 ministries totalling 1.38 trillion baht, as well as the disbursement of an investment budget of 258.98 billion baht.
