Suphan Mongkolsuthee, former chairman of the Board of Directors of the Federation of Thai Industries (FTI), was on Monday named leader of the Thai Sang Thai Party's economics team.
Mr Suphan currently serves as an honorary chairman of the FTI board.
His considerable business management experience and international reputation are the reasons why the party chose him to lead its economic team, said Pokin Polakul, a key Thai Sang Thai Party figure.
"Starting as a small business owner, Mr Suphan continued expanding until he had succeeded in having up to four companies listed on the Stock Exchange of Thailand," Mr Pokin said.
"Aside from his exceptional talent in business administration, Mr Suphan also has a political doctrine that matches that of Thai Sang Thai."
Mr Suphan said the economic team's priority is to provide policies that will help small businesses lower their operating costs while earning more income, which he believes will help improve disparities seen in business circles.
Business operators are well aware of what the problems are and have made suggestions to the government to tackle them so as to improve the economy, but their calls have fallen on deaf ears, said Mr Suphan.
"With the help of many young entrepreneurs and experienced business operators who are willing to support Thai Sang Thai, the party will be focusing on building a solid foundation for the further development of Thailand's economy," Mr Suphan said.
There are many good hands at the FTI who are willing to support him on this mission, he said.
"Not many business operators dare to enter politics but I have nothing to fear as I believe in my clean background," he said. "I may not be the best but I have many friends who will be supporting me."
Mr Suphan said, because the current government's handling of the economic problems lacks unity, it could never catch up with changes in the economic situation.
Khunying Sudarat Keyuraphan, chair of the party, said Thai Sang Thai's ideology is to avoid causing any new political unrest that may give rise to a new military coup, which would further hold the country back from developing.
