Bangkok: Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, has announced the nomination of a new Governor for the Bank of Thailand (BOT) is set to be presented to the Cabinet for approval in the upcoming meeting. This nomination comes as the current Governor, Dr. Sethaput Suthiwatanaruput, approaches the end of his term on September 30, 2025.

According to Thai News Agency, Mr. Pichai has endorsed Mr. Vitai Ratanakorn, the Director of the Government Savings Bank, as the new BOT Governor. This decision will be reviewed by the Cabinet on July 15, 2025. The BOT Governor Selection Committee had previously submitted two candidates for consideration: Ms. Rung Posianon Mallikamas, Deputy Governor of the BOT, and Mr. Vitai Ratanakorn.

Mr. Pichai expressed confidence that the new Governor will integrate seamlessly with the existing team, highlighting the history of smooth cooperation within the BOT. He emphasized that Mr. Vitai’s vision for addressing the nation’s economic challenges aligns well with the current economic landscape, showcasing his ability to effectively coordinate monetary and fiscal policies.