Thailand plans new financial business law to attract funds, official says
3:37 am Friday, July 19th, 2024
BANGKOK (Reuters) – Thailand is planning to introduce a new financial business law to attract foreign funds and facilitate investment in the sector, a deputy finance minister said on Friday.
The law will create a ‘one-stop authority’ agency responsible for setting regulations and issuing licenses for key financial areas to support Thailand’s aim to become a global financial centre, Paopoom Rojanasakul told a business event.
The key areas are the banking sector, securities, derivatives, digital assets, and insurance, he said, and the government would put legislation to parliament later this year.
Becoming a financial centre would change the economic structure without having to use an investment budget, and will give enormous returns by attracting funds, people and knowledge to the country, Prime Minister Srettha Thavisin told the event.
(Reporting by Orathai Sriring, Kitiphong Thaichareon and Thanadech Staporncharnchai; Editing by John Mair)
