July 19 2024: Thailand is set to introduce a new financial business law aimed at attracting foreign funds and facilitating investment in the sector, Deputy Finance Minister Paopoom Rojanasakul announced on Friday.
Speaking at a business event, Rojanasakul explained that the proposed law would establish a ‘one-stop authority’ responsible for setting regulations and issuing licenses across key financial areas. These areas include the banking sector, securities, derivatives, digital assets, and insurance. The government plans to present this legislation to parliament later this year.
Prime Minister Srettha Thavisin emphasized that becoming a global financial center could transform Thailand’s economic structure without requiring a substantial investment budget. He highlighted the potential for significant returns by attracting funds, talent, and knowledge to the country.
The initiative underscores Thailand’s strategic move to position itself as a major player in the global financial landscape, aiming to draw in international investment and expertise.
