Thailand: Govt to strengthen capital market
In his special speech, Thai Capital Market drives Strong Thai Economy, presented at the opening function of the “Set in the City Fair” held by the Stock Exchange of Thailand at Siam Paragon, Mr Abhisit said the government realizes that there will be more fierce competition in the capital market in the future.
“This has prompted the government to map out a five-year capital market development plan. The plan will include the national savings fund setting up, the development of domestic bond market and the development of financial product to enhance its diversity.
“The government will restructure tax system to attract and encourage more investors to the capital market and will come up with measures to deal with possible negative consequences of the fierce competition in the future,” the premier said.
The government wants to see the capital market to increase its capitalisation from the current 80 per cent of GDP to 130 per cent within the next five years. The number of investors in the market will also be boosted from 2.4 per cent to 5 per cent, he said.
Mr Abhisit suggested there should be a close collaboration between Thai capital market and other markets in the region in order to attract more foreign investors and to create regional network of the capital market.
Source: Bangkok Post 12 November, 2009
