Fetco to urge junta to set up panel to tackle legal hurdles
July 16, 2014 00:00 By The Nation
The Federation of Thai Capital Market Organisations (Fetco) has proposed that the National Council for Peace and Order (NCPO) set up a capital market development committee to solve legal obstacles, while pushing state enterprises to raise more money throu
Paiboon Nalinthrangkurn, chairman of Fetco, said it would also invite its representatives to provide information to foreign investors to regain their confidence.
“Roadshows will likely be made in places we are familiar with, like Singapore or Hong Kong. Fetco will invite state representatives from the ministries of Transport and Finance to provide information on the country’s future development, and representatives from private companies will also be invited to [help boost] investment confidence,” he said.
Paiboon said Fetco would also discuss with the junta the establishment of a committee to reform the capital market systematically. Previously, the Thai capital market has faced legal problems.
Such a committee had been set up by several governments in the past but had been neglected. Fetco has set up two working groups to study the legal obstacles to capital-market development to propose to the committee once it is established.
Paiboon said Fetco would also propose that the NCPO find ways to impose laws that would force state agencies or state enterprises to raise funds through the capital market.
“Laws may be issued to control fund mobilisation by each agency through borrowing and the capital market,” he said, conceding that Fetco was studying capital-market reform.