Dr. Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, delivered a keynote address at the IAA Awards: Awards for Listed Companies 2025 & SET-IAA Seminar 2025, held on November 4 by the Investment Analysts Association.
He announced that on November 7, 2025, Prime Minister Anutin Charnvirakul and himself will lead the delegation from the Stock Exchange of Thailand (SET), accompanied by Kiatnakin Phatra Securities, on a roadshow to meet investors in Singapore.
The government will showcase its achievements to-date, such as the “Half-Half Plus” project, the “Good Travel with Return” campaign, ongoing household debt relief efforts, and infrastructure development in the EEC area under the supervision of the Board of Investment (BOI).
Citing the latest economic figures, Dr. Ekniti expressed confidence that Thailand’s economic growth in 2025—previously estimated at just 2%—can be raised to 2.4% on the back of government policies. He also underscored the crucial role of investment analysts in organizations, noting that income tax revenue generated from this profession accounts for half of total corporate income tax revenue.
Regarding capital market policies, the government aims to promote saving and investment by encouraging middle-income earners to invest more in the Thai capital market. The first step, however, is to foster savings discipline through the development of Individual Saving Accounts (ISA).
There have been discussions about Long-Term Equity Funds (LTF) for tax deduction purposes, but many ended up with losses and extensions after holding periods expired. As a result, the Ministry of Finance has been consulting with the Federation of Thai Capital Market Organizations (FETCO) to establish personal funds to prevent further LTF-linked losses, making LTFs just one option under the new ISA structure.
Dr. Ekniti added that the government will also seek to utilize funds and future revenue in infrastructure projects, such as issuing funds backed by future fares for electric railway expansion and raising upfront funds for renewable energy projects like solar investments.
Narit Therdsteerasukdi, Secretary General of the BOI, revealed that the investment board has invited five companies for discussions with the SET regarding fundraising via initial public offerings (IPO).
The collaboration between BOI and SET serves as a “double power” to enhance the business potential of both Thai and foreign enterprises in the new economic era, integrating BOI privileges with the financial instruments of the Thai capital market.
This initial phase focuses on two areas: attracting leading foreign companies—especially from high-technology sectors like smart electronics, electric vehicles, and digital industries—already receiving BOI promotion, to list on the exchange for greater fundraising capacity, improved corporate governance, strengthening the capital market, and allowing Thai investors to participate in future industries.
The second area aims to encourage existing listed companies to invest in sustainable production upgrades through the BOI’s Smart and Sustainable Industry measures, in tandem with the JUMP+ program by SET, aiming for efficient and eco-friendly industrial growth.
This initiative aligns with BOI’s target to move Thailand toward a “new economy” driven by technology, innovation, and long-term sustainability.
Asadej Kongsiri, President of SET, stated that the exchange’s mission is to connect businesses to sources of fundraising and diversify quality investment products for investors. The SET has recently revised listing criteria for SET and market for alternative investment (mai) to allow high-growth New Economy businesses to list via market capitalization standards, enabling tech and innovation-driven companies without current profits to go public.
The SET is also in the process of updating these standards to remain competitive with other regional exchanges.
