Thailand is setting up a task force to boost stock market investments, improve liquidity and lift investor confidence.
The task force will be established jointly by the finance ministry, the Stock Exchange of Thailand, the Federation of Thai Capital Market Organisations and the Securities and Exchange Commission (SEC).
Pornanong Budsaratragoon, secretary-general of the SEC, made the announcement at an investment conference in Thailand on August 27.
She said the task force is expected to begin operations on September 15. She did not specify measures that will be taken to bolster the stock market.
The move comes as Thailand’s benchmark stock index has declined around 11% this year, partly as uncertainty over US tariff policies prompt foreign investors to flee into safe haven assets.
A number of investment scams and fraud have also hit retail investors’ confidence. In March, authorities uncovered an investment scam orchestrated by a man known as “Doctor Boon” that defrauded 14.2 billion baht (US$438.7 million) from hundreds of investors.
Pornanong said there is a need for legal reform to give regulators greater enforcement powers. She said institutional investors have urged the SEC to strengthen enforcement to protect investors and reinforce trust in the stock market.
