Bangkok: Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, has confirmed the progress of Thai-US trade negotiations despite the ongoing political tensions. He emphasized the role of the Jump+ initiative in rejuvenating Thai stocks.
According to Thai News Agency, Mr. Pichai addressed concerns following a meeting with listed companies regarding the Jump+ project, which seeks to enhance the value of listed companies and bolster the economy, communities, and capital markets. The Stock Exchange of Thailand, alongside partner agencies, plans to support these efforts through data analysis tools, advisory services, and heightened awareness to attract interest. The initiative, named JUMP+, underscores the need for decisive action in the face of heated political climates.
Political unrest has raised concerns about the potential impact on Thai-US trade and tax negotiations, which have been formally proposed. The negotiations adhere to a previously proposed 5-point framework; however, due to a Non-Disclosure Agreement (NDA) with the US, details of the conditions and negotiation dates remain confidential. Mr. Pichai acknowledged the complexities involved, suggesting that negotiations may extend beyond initial timelines.
The Jump+ project aims to equip entrepreneurs with a better understanding of the market landscape, enabling them to address challenges and communicate transparently with investors to foster confidence in sustainable investments in Thailand. Despite the current low stock market index, the capital market remains a crucial economic mechanism. Mr. Pichai highlighted the potential for growth if investors adopt a long-term perspective and comprehend the economic structure. The project aligns with policies addressing structural issues, including public utilities, tourism, energy, and investment-related laws, particularly foreign land ownership rights.
JUMP+ focuses on the development of small and medium-sized enterprises lacking the personnel or financial resources to engage consultants, promoting efficient business practices akin to larger companies. The initiative provides a one-year framework for reviewing and resolving business challenges collaboratively, with an emphasis on transparent communication with investors.
Mr. Pichai also noted that the Thai stock index is currently low compared to other countries. He urged investors to understand well-managed stocks, advocating for a medium to long-term investment strategy rather than short-term trading.
Moreover, existing market regulations aim to bridge the gap between large and small investors, as well as foreign and Thai investors, through improved information disclosure and measures to curb improper investment practices. The swift approval of the 2026 budget is also deemed a pivotal factor that could drive economic recovery and advance international trade negotiations, despite undisclosed details. This step is considered critical for the overall recovery of the Thai economy.