Thaksin outlines seven-point plan to revitalise Thai stock market
Former PM unveils vision to transform Thailand into financial hub with stricter regulations, crypto innovations, and diverse foreign investments
Former Prime Minister Thaksin Shinawatra presented a seven-point plan to restore confidence in Thailand's capital market during a talk titled "Chat with Tony: Bull Rally of Thai Capital Market" on Monday evening.
Speaking to market participants, Thaksin emphasised the need to rebuild trust and confidence in the Thai stock market, which he said had been shaken by various challenges.
The former premier said he had discussed the seven-point strategy with the current government, led by his daughter Prime Minister Paetongtarn Shinawatra, and the previous administration of PM Srettha Thavisin. Thaksin officially serves an adviser to the government but is widely regarded as the de facto leader of the ruling Pheu Thai Party.
His proposed stock market reforms focus on strengthening corporate governance oversight, addressing concerns about high-frequency trading, and accelerating regulatory responses to market violations.
He emphasised the crucial role of the Stock Exchange of Thailand’s regulator.
"The Securities and Exchange Commission (SEC) needs greater authority to act swiftly – similar to international standards – without waiting for prosecutors or the DSI [Department of Special Investigation]," Thaksin said.
He added that the Thai stock market should also aim to diversify by attracting new listings, especially from foreign companies investing in Thailand. He highlighted the estimated 500 billion baht in foreign investment expected following the legalisation of gambling and casinos, which was approved by the Cabinet this week.
Thaksin also addressed the issue of undervalued stocks, suggesting increased use of treasury stock programmes and the adoption of a Japanese-style system to align share prices with book values.
Digital transformation was a key focus of his proposal, with Thaksin urging the SEC to establish an agency to oversee cryptocurrency and digital asset trading.
He suggested that Thailand should adopt global crypto trends, such as using Bitcoin for debt settlement and introducing Real World Asset (RWA) tokenisation – trading blockchain-based digital tokens representing tangible physical assets. He also unveiled plans for a cryptocurrency sandbox project in Phuket, where Bitcoin transactions would be state-managed to minimise risks.
Thaksin also highlighted potential in the carbon credit trading market, noting that carbon credits currently trade at $7 per tonne in Thailand, compared to $14 in Singapore and $35 in Europe, suggesting significant potential for market development.
Looking ahead, Thaksin outlined broader financial initiatives, including plans to transform Thailand into a regional financial hub. He revealed that the government is studying Dubai and Singapore as potential models for the transformation.
The proposals come as part of a larger economic revival strategy adopted by his daughter’s government, including plans to reduce electricity costs to 3.70 baht per unit to attract major investments, particularly in data centres and AI hubs, which Thaksin described as crucial for Thailand's future development.
