Bangkok: The Federation of Thai Capital Market Organizations (FETCO) has outlined a strategic “Quick-Big Win” proposal to the Prime Minister, aiming for implementation within four months to stimulate the Thai capital market and economy, particularly in the Eastern Economic Corridor (EEC).
According to Thai News Agency, the proposal involves a series of measures designed to boost investment and confidence in the Thai capital market. Key elements include a tax exemption for long-term dividends and permanent tax privileges for investments in environmental, social, and governance (ESG) sectors. The Stock Exchange of Thailand (SET) and listed companies are also working on initiatives to enhance workforce skills, provide free labor, and address investment fraud, which currently amounts to 55 billion baht.
Dr. Kobsak Phutrakul, Chairman of FETCO, emphasized the private sector’s commitment to supporting government efforts in revitalizing the economy and fostering long-term growth. He highlighted the need for a robust legislative framework, suggesting that a new bill, rather than legal amendments or a Royal Decree, would be sufficient to implement the proposal within the targeted timeframe.
The proposal aims to strengthen market confidence by aligning government policy with effective communication and strategic actions. It also seeks to attract foreign investors by showcasing robust economic policies following recent elections. Additionally, the plan includes developing new economic engines through capital market mechanisms, furthering the EEC project, and encouraging large companies to establish production bases and headquarters in Thailand.
Long-term liquidity in the Thai capital market is expected to increase through proposed tax exemptions and incentives for domestic institutional investors. Furthermore, the initiative plans to upskill and reskill the workforce via e-Learning initiatives spearheaded by SET and listed companies, with the aim to complete these training programs within one to two months. The suppression of investment fraud is also a priority to ensure a secure financial environment for the public.
Dr. Kobsak noted that the presentation of the “Quick-Big Win” proposals marks a collaborative effort to enhance the Thai capital market’s role in supporting government policy and driving economic growth. This initiative aligns with the recommendations of the Thai Capital Market Reform Measures Consideration Committee, which includes the Ministry of Finance, the Securities and Exchange Commission (SEC), FETCO, and SET. The next steps will involve discussions with the Minister of Finance and the Ministry of Commerce to establish definitive guidelines for advancing Thailand’s economic development.