ID :
389481
Mon, 11/30/2015 - 11:50
Auther :

Thailand to upgrade capital market

BANGKOK, November 30 (TNA) - Thailand is drafting a 10-year plan to upgrade the capital market, expected to be comparable with those of neighboring Singapore and Malaysia in the future. Speaking at the International Capital Market Conference 2015 held in Bangkok on Monday, Permanent Secretary for Finance Somchai Sujjapongse (สมชัย สัจจพงษ์) said that the plan would involve new financial instruments, including new derivatives, a new long-term saving product for the elderly, incentives for the private sector to raise funds for environment-friendly projects, investment training for the general public and individual investors and equity market partnerships with other member countries in the Greater Mekong Sub-region (GMS), namely Vietnam, Laos and Cambodia. Somchai anticipated that the plan, expected to be implemented early next year, should make the Stock Exchange of Thailand (SET) a source of funds from global investors. Somchai noted that the Thai government also plans to develop cooperation on capital raising through equity markets with neighboring countries, especially those in GMS, in order to pay for transport networking with neighboring countries. According to the senior official, GMS member countries form as much as 30 per cent of the total ASEAN economy and their economies have been growing by 10 per cent annually over the past decade, thanks to investment from large-scaled business operators. GMS member countries include Cambodia, Laos, Myanmar, Thailand, Vietnam and China's southern Yunnan Province, all of which, except China, are also ASEAN member countries. (TNA)

X