BANGKOK, Thailand – Kitipong Uraveepattanapong, Chairman of the Stock Exchange of Thailand (SET), spoke after a meeting with Prime Minister and Interior Minister Anutin Charnvirakul, economic teams, and capital market representatives. He emphasized that the fastest action the government could take within a limited timeframe is implementing a “regulatory guillotine” — streamlining or eliminating outdated regulations that hinder investment. This quick-win initiative could be completed within four months, and if successful, is expected to push the country’s GDP up by 1%.
“Within four months, the regulatory guillotine can be implemented without needing to pass new laws or emergency decrees. Proposals concerning capital markets that don’t require legislation will also be reviewed. Tax incentives for the capital market will be considered, and a joint committee will oversee the work. In the first Cabinet session, the guillotine committee will be established, and we expect tangible results within two months,” Mr. Kitipong said.
Regarding TISA (Thailand Individual Savings Account), a tax-advantaged investment account modeled on Japan’s NISA, discussions will continue on the details. If successful, TISA could expand the Thai capital market and encourage long-term savings.
“The specific tax deduction amounts need to be calculated. The idea is that once TISA is approved, RMF and LMF may no longer be necessary, though they could remain. TISA has been successful in Japan, and it can strengthen the market while promoting savings,” Mr. Kitipong added.
