Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai will serve as vice chairman of the committee.
A news source said that the move was approved by Cabinet meeting this week.
The meeting also voted Parnpree to chair the committee on boosting Thailand’s competitiveness in target industries, which is currently chaired by Prime Minister and Finance Minister Srettha Thavisin with Parnpree acting as the vice chairman.
This puts Parnpree, former president of national oil and gas conglomerate PTT, in charge of the government’s two committees on economic promotion and foreign investment.
A source said the move aims at improving the efficiency of the two committees and ensuring seamless operations in overlapping areas.
Parnpree, 66, served as assistant to the Commerce Minister during the Thaksin Shinawatra administration and was named Thailand’s Trade Representative in 2005.
He was the Pheu Thai party’s deputy leader and chief of the party’s economic team from 2008 to 2010, before becoming president of PTT in 2013.