Thailand Focus 2024′ has started, while ‘Phao Bhumi’ pointed out that the stock market reflects economic growth and business potential. The government is ready to move forward, confirming that the digital wallet will continue, but wait for clarity. He revealed what the people want.
Mr. Paopum Rojanasakul, Deputy Minister of Finance, presided over the opening ceremony of ‘Thailand Focus 2024’ organized by the Stock Exchange of Thailand and delivered a special lecture on the topic of ‘Embracing Change, Igniting Growth’ to keep up with the changes and ignite the power of growth. This year is the 18th time under the concept of ‘Adapting to a Changing World’, presenting the readiness and potential of the private sector, capital market and Thai economy despite facing challenges from the rapidly changing global situation. Executives from the government sector, business sector, money market and capital market provided information to build confidence for foreign institutional investors. More than 113 listed companie
s presented information on their business operations to institutional investors.
Mr. Pao Bhumi said that Thailand Focus is an annual event of the Stock Exchange of Thailand, which has received quite a lot of attention. It is in line with the Thai economic situation, which is called the period of raising its head, which will reflect on the Stock Exchange of Thailand. When the economy becomes more interesting and has a better direction, there will be more investors in the Stock Exchange of Thailand. This is a good opportunity to receive ideas and listen to opinions from many parties, including the Stock Exchange of Thailand, the Bank of Thailand, the SEC, and various regulatory agencies, regarding the efficiency of regulatory agencies and the attractiveness of the Thai stock market.
The stock market reflects economic growth, reflects business potential, both in the dimension of GDP growth and in the dimension of the private sector in each industry group, together. We want all industry groups to grow together.
When the performance is good, it will be reflected in the stock market. The attractiveness of the stock market will increase, which investors will consider the potential for long-term growth of 5-10 years.
‘I like to develop from the core capital market, but of course it takes time. Therefore, we must develop other parts in parallel to create attractiveness. That’s why we have Vayuphak Fund, ThaiESG Fund, and develop stricter supervision, efficiency, effectiveness, and credibility,’ said Mr. Pao Bhum.
Mr. Pao Bhumi also mentioned economic stimulus measures, wanting to wait for the new government’s policy statement to receive accurate information, stating that the concept and DNA are still the same, so it is highly possible that the concepts and policies over the past year will be continued until completion. In principle, the framework of the economic policy led by the Pheu Thai Party is to attract new money into the country, whether it be entertainment complexes, financial hubs, or other 8 hubs in the previ
ous government.
For the Financial Hub project, a large committee has been set up, which will amend the new law. It is expected that it will take another 2 months to take shape, competing with the world’s hub country, Singapore. It must be made more attractive, both in terms of tax benefits and other non-tax incentives, such as ease of entry, visas, labor benefits, and the country’s ecosystem, which must be developed in order to be ready to attract foreign investors. Currently, there is a development of a guarantee system in the establishment of the National Credit Guarantee Agency (NaCGA), which will soon be submitted to the Cabinet, with the Ministry of Finance looking at tax benefits at an appropriate rate and a suitable ecosystem, with proposals from many parties coming in, which are ready to be listened to.
As for the digital wallet policy, it is confirmed that it will continue, but I would like to wait for the policy statement, which has a high possibility of accepting the concepts reflected in various
media in order to distribute money more quickly and appropriately in order to stimulate the economy to the point, which is of maximum benefit to the country. I believe that it will be good news for the people. We should see it this September. Currently, the number is around 30 million names. It is expected that the registration period will not be extended. –
Source: Thai News Agency