Deputy Finance Minister Paopoom Rojanasakul revealed that Finance Minister Pichai Chunhavajira has signed an order to form this committee, with Mr. Paopoom serving as its chairman.
The committee’s inaugural meeting is set for this week.
Comprising 34 members, the committee includes Mr. Paopoom as chairman and the permanent finance secretary as vice-chairman. Members represent various organizations, including the Bank of Thailand, the Office of the Insurance Commission, the Securities and Exchange Commission, the Anti-Money Laundering Office, the Department of Consular Affairs, the Revenue Department, and the Fiscal Policy Office, among others.
Mr. Paopoom emphasized that to promote Thailand as a financial hub, it is essential to create suitable regulatory frameworks for businesses, along with incentives and support that may necessitate amending several laws.
The committee will have the authority to research, recommend, and develop policies to enhance Thailand’s status as a financial center, draft related legislation, and prepare plans for secondary legislation to present to the finance minister and cabinet.
The initiative to develop a global financial hub includes commitments to reform financial business regulations and introduce new benefits, according to Mr. Paopoom.
The focus will be on five key sectors: banking, securities, derivatives, digital assets, and insurance.
Mr. Paopoom stated that the project aims to create an ecosystem where global operators, startups, and innovative thinkers can collaborate to foster financial innovations and technologies within a supportive regulatory framework, while ensuring the stability of the country’s financial system.
