Phipat Ratchakitprakarn: The new minister holding the keys to Thailand’s infrastructure projects

There are also encouraging signs for foreign investors, after years of low investment and economic stagnation. Bhumjaithai is generally characterised as business and investment-friendly, and has already announced intentions to approve planned investment projects worth USD 15 billion this year. It has a stated ambition to accelerate government approvals via a new Thailand Fastpass, a bureaucratic accelerator for high-value investment projects. 

With an estimated USD 45 billion of earmarked large infrastructure investments due to be unfrozen after years of political deadlock, it is expected these will now take centre stage. These include major projects such as a high-speed rail link linking the Don Mueang, Suvarnabhumi and U-Tapao airports as well as the southern landbridge, which seeks to connect the Andaman Sea and the Gulf of Thailand. Key oversight of these projects will likely fall to Phipat Ratchakitprakarn, a Bhumjaithai member and slated Minister of Transport, responsible for infrastructure in Thailand.

Who is Phipat Ratchakitprakarn?

Phipat Ratchakiprakarn’s anticipated appointment bodes well for infrastructure development in Thailand. He is an experienced and established politician and businessman who has indicated support for investment into the sector. He will inherit a broad portfolio of ambitious projects that lie at the heart of Bhumjaithai’s ambitions for an economic revival.

With roots in southern Thailand’s business community, Ratchakitprakarn’s background bridges the private and public sectors. A native of Songkhla Province in southern Thailand, Ratchakitprakarn’s family operated an oil import business. He holds both a bachelor's and a master's degree in Political Science from Ramkhamhaeng University. 

Ratchakitprakarn built his career in the energy and logistics sector. He initially joined his family's business importing oil and selling to fishing vessels in the region. In 1988, he founded PTG Energy Public Co Ltd, a now-publicly listed Thai energy and retail company. The company is today led by Ratchakitprakarn’s brother, Pitak Ratchakitprakarn. In 1992, he also founded Petroleum Thai Corporation Co Ltd, a distributor of petroleum goods.  

Concurrently, in 1988, Ratchakitprakarn entered politics. He initially joined the Mahachon Party at the behest of former Thai politician and Deputy Minister of the Interior Vatana Asavahame as the party sought to expand its southern base. He served on the party's executive bodies before moving to join Bhumjaithai in 2011, where he developed ties to influential politician and co-founder of Bhumjaithai, Newin Chidchob. 

His ascent to the cabinet began in 2019 following the return to a civilian-led government. After the Thai Palang Pracharath Party won the March 2019 election and formed a coalition with Bhumjaithai, Ratchakitprakarn was appointed as Minister of Tourism and Sports - a portfolio overseeing a sector contributing more than 10 percent of Thailand’s GDP. Under subsequent administrations, he has served as Minister of Labour and interim Minister of Transport since September 2025.

Slated to retain his role as Thailand’s Minister of Transport under the newly elected Bhumjaithai administration, Ratchakitprakarn is regarded as pragmatic and pro-development. He has frequently expressed his support for projects such as the southern landbridge and in December 2025 publicly expressed a desire for the resolution of hurdles facing the Don Mueang-Suvarnabhumi-U-Tapao rail link to ensure the project can commence in 2026. 

Phipat Ratchakitprakarn (พิพัฒน์ รัชกิจประการ) Age: 70 Home province: Songkla Education: Ramkhamhaeng University Spouse: Ratchanee Ratchakitprakarn (also known as Naporn), also an MP Hobbies: Known to be passionate about sports, both as a pastime as well as a social and economic enabler

The energy sector

The energy sector is similarly anticipated to see some major shifts. As with infrastructure, several large energy projects, including floating solar installations at several dams and Direct Power Purchase Agreements (DPPAs) for data centres, were frozen in 2025. With its new political mandate, Bhumjaithai is expected to make decisions on moving forward with these soon. 

Auttapol Rerkpiboon is set to serve as the new Minister of Energy, a role he previously held in an interim capacity since September 2025. An alumnus of the prestigious Chulalongkorn and Oxford Universities, Rerkpiboon's professional background is defined by a long career in Thailand’s national oil and gas firm, PTT Public Company Limited. He held various senior leadership roles in the company’s downstream operations and corporate strategy and ended his time there as the company's CEO between 2020 and 2024. 

Rerkpiboon has articulated an agenda focused on the acceleration of Thailand’s net-zero agenda. He has consistently advocated for clean energy, regularly speaking on the benefits of clean energy, including Hydrogen, at policy, business and academic events. He has also indicated strong support for driving investment into green power systems to support data centres and new large-scale renewable projects. 

Risk Advisory has worked extensively in Thailand, helping support clients in navigating the political, regulatory and operational risks of the market. We provide intelligence and analysis supporting legal and commercial decision-making in Thailand and across the Asia-Pacific region.