A political party backed by billionaire politician Thaksin Shinawatra, whose family has dominated Thai politics this century, has nominated another member of the dynasty as its top prime ministerial candidate in the election scheduled for early next year.

Yodchanan Wongsawat, Thaksin’s nephew and son of former leader Somchai Wongsawat, headed a roster of three prime minister candidates of the Pheu Thai Party announced on Tuesday. Julapun Amornvivat, a former deputy finance minister who also leads the party, and veteran politician Suriya Juangroongruangkit are the other two nominees.

Thailand is set to hold general election on Feb. 8 following the dissolution of parliament last week by Prime Minister Anutin Charnvirakul, who is banking on the nationalist sentiment stirred by an armed conflict with neighbor Cambodia to return to power. Investors will be closely watching the election outcome as Thailand has been rocked by bouts political upheaval, with Anutin being the third prime minister to lead the country since the last election in 2023.

With the nomination of 46-year-old Yodchanan, an associate professor in biomedical engineering at Bangkok-based Mahidol University, Pheu Thai is betting it can retain the support of farmers and rural voters who have been loyal to the Shinawatra clan, while also appealing to young urban voters.

Yodchanan acknowledged his political elevation to the family connection, and said being Thaksin’s nephew will give him an “advantage” during the party’s campaign. His party will contest the election on a raft of promises ranging from offering debt relief to households and farmers besides promoting new engines of growth to recharge a fragile economy.

The Shinawatra clan has seen a decline in its political fortunes with the collapse of a deal between the Pheu Thai Party and the conservative establishment earlier this year. Besides Thaksin, who led Thailand from 2001 until he was ousted in a 2006 coup, five other prime ministers tied to his family or political parties were removed from office through court rulings or coups.

In August, Thaksin’s daughter Paetongtarn Shinawatra was ousted as prime minister by a court for ethical breaches in her handling of the border dispute with Cambodia. And Thaksin is serving a one-year prison term for past corruption convictions, with more legal troubles looming after prosecutors decided to appeal his acquittal in a royal defamation case.

While Thaksin has vowed not to vanish from Thai politics, the ouster of his party from power led to a steady decline in Pheu Thai’s popularity, according to latest opinion polls. The next election is billed as a showdown between Anutin’s Bhumjaithai Party and the reformist People’s Party, which has consistently led in the popularity polls.

Under Thai election rules, each political party may nominate up to three premier candidates ahead of the national vote. Only candidates from parties that secure at least 25 parliamentary seats will remain eligible for the post after the election.

People’s Party has nominated its leader Natthaphong Ruengpanyawut and deputy leaders Sirikanya Tansakun and Veerayooth Kanchoochat as its prime ministerial candidates.

More than 50 million voters will elect 500 members of the House of Representatives — 400 constituency lawmakers and 100 party-list members. The elected lawmakers will then select the prime minister in a parliamentary vote.

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