Bangkok, Jul 12 (IANS): Thailand's Prime Minister Prayut Chan-o-cha has announced his retirement from politics and resignation as a political party member.

"I am announcing my retirement from politics and resigning as a member of the Ruam Thai Sang Chart Party (United Thai Nation Party)," he said on Tuesday in a statement released by his party.

"Throughout the past nine years as Prime Minister, I have dedicated myself to the benefit of the beloved people. These efforts have begun to bear fruit, strengthening our country in all aspects," he added.

Prayut will remain as the country's caretaker Prime Minister until a new government is formed, Xinhua news agency reported.

The Ruam Thai Sang Chart Party secured the fifth position in the May 14 general election, winning 36 seats in the 500-member House of Representatives.

The announcement came ahead of the Thai parliament's bicameral National Assembly on Thursday, when the next Prime Minister will be elected.