July 17, 2014 00:00 By NAKARIN SRILERT THE NATION 2,122 Viewed
The Federation of Thai Capital Market Organisations (Fetco) has proposed to the junta hosting "Thailand Roadshows" to rebuild the confidence of foreign investors and increase their understanding of the political and economic situations in this country.
Fetco also suggested to the National Council for Peace and Order (NCPO) a reform plan for the Thai capital market that includes urging the government and state enterprises to mobilise funds from the capital market and increasing the rate of personal savings. The government could use infrastructure funds as an alternative source of money for its mega-projects.
Air Vice Marshal Monton Satchukorn, spokesman for the Royal Thai Air Force and adviser to the head of economic affairs of the NCPO, said about 15 representatives from Fetco, led by chairman Paiboon Nalinthrangkurn, on Tuesday met with deputy junta chief Air Chief Marshal Prajin Jantong, head of economic affairs for the NCPO, to propose the “Thailand Roadshows”. One of the roadshows’ aims would be to clarify to foreigners the economic policy recently spelled out by the junta.
Fetco would invite representatives from the NCPO’s economic-affairs arm, government offices, and the Board of Investment to join the trips to meet investors in Singapore and Hong Kong.
The federation proposed a plan to reform the local capital market, which would entail three measures.
First, the capital market would be used as a tool or investment channel for the government and to increase the efficiency of the state enterprises.
Second, a savings system would be created to cater to the ageing society, and financial education would be supported to reduce the wealth gap and promote stability of people’s incomes in the long term.
And third, Fetco proposes reforming the structure of the local capital market and use of infrastructure funds as an option for raising investment capital for state mega-projects.
Fetco also raised the idea of public- and private-sector participation in any creative activity for the public benefit, such canal restoration, which would reflects the unity and harmony of people in the country.