On January 15, the Federation of Thai Capital Market Organizations (FETCO) organized a seminar for vision exchange, inviting six political parties to express their positions and approaches on reviving the Thai economy and capital market amid domestic pressures and global economic volatility.
Overall, all parties agreed that “confidence” is the core of restoring the stock market. They proposed major capital market structural reforms, promoting long-term savings through tax-deductible funds. Several parties also suggested reintroducing the Long-Term Equity Fund (LTF).
Professor Kitipong Urapeepatanapong, Chairman of the Stock Exchange of Thailand (SET), shared his vision at the seminar, noting that the general election for Members of Parliament on February 8, 2026, marks a “critical turning point” for Thailand’s economy and capital market.
He called on the new government to boldly implement “strong measures” to reform regulations and enhance transparency. His policy proposals include unlocking laws that hinder investment, proposing the establishment of an integrated special committee, considering dividend tax exemptions to attract high-quality companies to the market, and advancing the “Economy University” model to make knowledge and innovation central to driving the economy.
The professor also voiced concern about the persistently high level of household debt, warning that stimulating the economy through cash handouts alone is not a long-term solution and will not restore confidence. The government should focus on income generation, enhancing competitiveness, and moving forward with tax structure reform in parallel.
Dr. Kobsak Pootrakool, Chairman of FETCO, made key policy recommendations: 1) establishing a capital market court for speedy and precise rulings on fraud cases by specialized experts; 2) tax measures and funds, proposing the reintroduction of the LTF, supporting ESG funds, and encouraging overseas investments; and 3) creating a new S-Curve by supporting new-generation companies entering the market through BOI incentives and IPOs to inject fresh vitality into the Thai capital market.
Mr. Korn Chatikavanij, Deputy Leader and Prime Ministerial candidate of the Democrat Party, stated that to revive the Thai stock market, the prerequisite is a “healthy economy,” with three main factors: confidence, quality capital market products, and transparent, fair rules for both brokers and investors.
Two crucial elements to help revive the Thai capital market are: 1) having good and diverse capital market products, and 2) promoting fair competition, which must be accompanied by tax incentives, clear trading regulations, and fair oversight of High-Frequency Trading (HFT) programs to protect retail investors. He forecasts that addressing all these dimensions will help rebuild confidence and the Thai stock market in the long run.
