Home > United Nations Online Network in Public Administration and Finance (UNPAN)
1. Global
Global
2. Africa
Africa
3. Arab States
Arab States
4. Asia & Pacific
Asia & Pacific
5. Europe
Europe
6. Latin America & Caribbean
Latin America & Caribbean
7. North America
North America
UNPAN Asia & Pacific




Public Administration News  
Share
Thailand: Government Fully Supports Capital Market Reform
Source: thailand.prd.go.th
Source Date: Wednesday, September 29, 2010
Country: Thailand
Created: Oct 10, 2010

The Thai stock market is now one of the world’s best performers in the world in 2010, according to several assessments. Prime Minister Abhisit Vejjajiva said that the Government fully supports capital market reform in Thailand.

The statement was part of his speech at the “Special Investors Event for the Stock Exchange of Thailand” in New York on 24 September 2010. The event was co-hosted by Goldman Sachs and the Stock Exchange of Thailand.

The Prime Minister pointed out that the index of the Thai stock market barely moved during the political unrest in April and May, reflecting strong confidence among various groups of investors in the Thai economy. He said that capital market reform is based on the belief that there are fresh opportunities in the economy to expand. The Capital Market Development Plan was endorsed by the Cabinet at the end of last year. The purpose of this plan is to deepen and broaden Thailand’s capital market with a view to increasing its efficiency and liquidity.

Included in the Plan are measures, among others, to demutualize the Stock Exchange of Thailand (SET), promote mergers and acquisitions (M&A) activities, enhance securities law enforcement, and reform tax measures related to capital market transactions.

The Government believes that the successful implementation of the Capital Market Development Plan will benefit the capital market and have far-reaching benefits for the Thai society and economy on the whole. It will improve Thailand’s competitiveness, promote savings, and improve the linkage between the Thai and global capital markets.

The Prime Minister said that Thailand is also embarking on cooperation with stock exchanges in other countries, including the New York Stock Exchange, which he had the opportunity to visit last year, to create linkages between stock exchanges of the world and in the region. Those in ASEAN, for example, are very keen to create such linkage with Thailand.

He told participants in the Special Investors Event for the Stock Exchange of Thailand that foreign investors temporarily left Thailand during the peak of the political crisis. But they resumed activity quickly after stability had returned. Since the end of May, foreign investors’ net buying in the Thai stock market amounted to around 40 billion baht. It is, in fact, still a small figure, even undervalued, when compared to the strong exports that have been seen.

The Prime Minister is confident that there is room for growth on the Thai stock market and the Government encourages more active foreign participation. He stated that it was very encouraging also to learn that foreign investors continued to have strong commitment to Thailand. During the remainder of his term as Prime Minister, he would remain firmly committed to strengthening Thailand’s investment climate and improving Thailand’s competitiveness.
News Home

 Tag This
 Tell A Friend
 Favorite
del.icio.us digg this Slashdot
Rate:
0 ratings
Views: 184

Comments: 0 Favorited: 0 Bookmarked: 0 Tagged: 0



0 Comments | Login to add comment

Site map | FAQs | Terms and Privacy | Contact Us
Copyright 2008-2010 by UNPAN - United Nations Public Administration Network