BANGKOK, Thailand – Pichai Chunhavachira, the Acting Deputy Prime Minister and Minister of Finance, noted that the Thai stock market has shown signs of stabilization, with investor confidence beginning to recover on August 26. He explained that a 100-point increase in the index has resulted in a market capitalization rise of 1.2-1.3 trillion baht, and if the index climbs 200 points, the market cap could surge by 2.5 trillion baht.
Pichai also mentioned that preparations are underway for the sale of the Vayupak Fund, with the Ministry of Finance currently gauging demand from various groups. Discussions have been held with financial institutions, commercial banks, and other relevant agencies to determine the most suitable format for the sale, which is expected to occur at the end of September or early October 2024.
Regarding concerns about the economy, Pichai emphasized that the Cabinet, regardless of its composition, is committed to implementing policies that benefit the economy. He highlighted Thailand’s numerous strengths, such as its strategic location and strong economic foundation, which offer significant business opportunities that have yet to be fully realized.
On the topic of the baht’s appreciation, Pichai remarked that this fluctuation is a natural response to global financial changes and should not adversely affect Thailand’s export sector. He noted that the volume and prices of exported goods remain strong.
Additionally, Pichai commented on the significance of the agreement signed on August 26, 2024, between three key agencies: the Anti-Money Laundering Office (AMLO), the Securities and Exchange Commission (SEC), and the Stock Exchange of Thailand (SET). This agreement aims to enhance collaboration in preventing and combating securities-related offenses linked to money laundering. Pichai believes that market confidence is bolstered when investors can independently assess and analyze market information.
