Can tycoon Supant apply his business acumen to drive Thailand?
Supant Mongkolsuthree may be new to politics, but he is a titan in business circles. Yet, many are wondering if he will be able to apply his business expertise to the economy if he gets the country’s top job.
Supant is one of Thai Sang Thai Party’s three PM candidates, and promises to pull Thais out of the mire of debt and revitalise small businesses.
His candidacy was announced on March 31 and he is No 2 on the list after party leader Khunying Sudarat Keyuraphan and party secretary-general Colonel Sita Divari.
Though he is a new kid in town where politics is concerned, Supant has had a long career in the field of economics. He served as president of the Federation of Thai Industries (FTI) for three consecutive years and was a distinguished member of the Asia-Pacific Economic Cooperation’s business advisory council as well as the National Legislative Assembly after the 2014 coup.
His career trajectory made him a strong contender for a senator’s post – an offer he declined apparently because he did not want to become a pawn of the status quo.
Supant’s record of achievements also includes his negotiating powers in procuring Covid-19 vaccines for companies under the FTI’s jurisdiction. When the pandemic hit the nation, vaccine imports were hindered by red tape, thereby affecting both public and private sectors.
Apart from these achievements, Supant established two companies, namely printing-cum-security firm TCS Technology and IT products importer Synnex (Thailand).
Though both companies started off as small stores in Bangkok, they both grew to win awards for sustainability and services to society.
Supant’s long-standing career in the business field has also earned him the title of consummate networker. Apart from three tenures as head of FTI, Supant also chaired the Export-Import Bank of Thailand and was part of several executive boards including the Knowledge Network Institute of Thailand, the National Science and Technology Development Agency and Krung Thai Bank.
He has also served as special adviser to several higher education institutions, including Thammasat University’s Sirindhorn International Institute of Technology and the Rajamangala University of Technology Isan.
His educational achievements are also wide and varied. Apart from holding an honorary PhD in Economics from Ramkhamhaeng University, Supant also has a master’s in Public Administration from Chulalongkorn University, an MBA from City University in Seattle and a master’s in Management Science from Sukhothai Thammathirat Open University.
In recent media interviews, Supan said he entered politics because he understands the difficulties faced by small and medium-sized businesses, which he believes are the lifeblood of Thailand’s economy.
He has also set his sights on alleviating the burden of debt suffered by many Thais along with the country’s many other pressing issues. He said self-reliance is more critical than ever in a rapidly changing global landscape marked by trade conflicts.
He hopes to elevate the earnings of SMEs within three years and guide the country towards a future of sustainable growth and prosperity.
