Somchai Sujjapongse appointed as new chairman of BOT Board

The appointment of the new chairman of the BOT Board took effect on June 2. He succeeds Paramethi Wimonsiri, whose term expired on January 16.

According to the announcement published on the Royal Gazette website, His Majesty the King has officially endorsed Somchai as the BOT Board chairman, in accordance with Section 24 of the BOT Act BE 2485 (1942), as amended by the BOT Act (No 4) BE 2551 (2008).

The appointment was countersigned by Prime Minister Paetongtarn Shinawatra

Biography of new BOT Board chairman

Somchai Sujjapongse was born on July 27, 1961, and is currently 63 years old. He is a distinguished economist who has played a significant role in shaping Thailand’s fiscal policies. With extensive experience in the Finance Ministry, his expertise is widely recognised both domestically and internationally.

He earned his bachelor’s degree in economics from Chulalongkorn University in 1984, graduating with honours. He then received a government scholarship to pursue further studies at Ohio State University, US, where he completed his master’s degree in 1985 and PhD in 1990.

Somchai has worked in fiscal economics for over 22 years, steadily advancing through key positions, including:

• Permanent Secretary of the Ministry of Finance (October 1, 2015 – May 1, 2018)
• Director-General of the Customs Department (Two terms: October 1, 2009 – September 30, 2010 & June 27, 2014 – September 30, 2015)
• Director-General of the Fiscal Policy Office (Two terms: October 1, 2008 – September 30, 2009 & October 1, 2011 – June 26, 2014)
• Director of the State Enterprise Policy Office (October 1, 2010 – September 30, 2011)
• Fiscal Policy Adviser (January 29, 2007 – September 30, 2008)
• Deputy Director-General of the Fiscal Policy Office (October 16, 2003 – January 28, 2007)

Prior to these roles, Somchai held various directorial positions within the Fiscal Policy Office, contributing significantly to financial policy development, savings and investment planning, and fiscal risk management.

Beyond his government service, Somchai has been actively involved in academia. He has served as a guest lecturer for master’s degree programme at Thammasat University, Chulalongkorn University, and the University of the Thai Chamber of Commerce, sharing his knowledge and experience with students.