Professor Kitipong Urapeepatanapong, Chairman of the Stock Exchange of Thailand (SET), stated that regarding the transition to the new government, the SET has already prepared a comprehensive package to propose to the new administration, complete with step-by-step regulations that can be implemented. Legal aspects have also already begun to be addressed to open more opportunities for new businesses to list on the Thai stock market and to offer new investment products. It is estimated that in the next 4-6 months, the picture will become clearer.
Therefore, once the new government comes into office, these proposals can be presented for immediate approval—similar to the period when Anutin Charnvirakul became Prime Minister, during which there were joint discussions with the Thai capital market. The package was presented, detailing what needs to be done and how it should be executed, and it is ready for implementation. The proposed plan does not require much action; it depends on whether the government will proceed with it, as none of the content is new.
For all the proposals from the capital market, there might be issues the government considers more important, but the package proposed remains highly significant, especially concerning investor confidence. This includes prosecuting offenders, which is not a new issue, or addressing how to have Thai listed companies pay more taxes to increase national revenue. This may require some improvements or amendments, but overall, these are not new concerns.
Mr. Asadej Kongsiri, Director and President of the SET, stated that the direction of Thailand’s election on February 8 should be recognized as advantageous for the country, notably the continuity of coalition governments. Inquiries with foreign investors reveal that they share similar perspectives. Regardless of the coalition’s composition, business operations can continue without any policy adversely affecting the economy.
More importantly, there is a need for policies or cooperation that will allow the economy to leap forward. The recurring political uncertainty in Thailand has led investors to estimate that the country is not realizing its full growth potential, keeping economic expansion at just 2–3%, even though the country’s economic fundamentals, geopolitics, and potential should allow for higher growth.
