Support new economy drivers, ministers tell SET

BANGKOK: DEPUTY Prime Minister for economic affairs Somkid Jatusripitak and Finance Minister Apisak Tantivorawong have urged the Stock Exchange of Thailand to provide more support for the country's new economic engines - the so-called s-curve.

Visiting the bourse Friday, Apisak told the SET's board of governors that his ministry would propose to the Cabinet within a fortnight the setting up of a committee charged with developing the capital market. He will chair the committee.

On Tuesday the Cabinet supported the Industry Ministry's identification of 10 future industries that the ministry predicted would become the country's new economic drivers.

It has also been revealed that the Council of Economic Ministers will go on a road show next year in a bid to get foreign direct investment pumped into the targeted industries and the planned special economic zones in border areas.

"The aim of the committee is to make sure that the SET's future plan will follow the direction of the s-curve strategy to push Thailand towards a higher income country by providing more support for the small and medium enterprises that are in the targeted industries," said Somkid, who joined Apisak for the SET visit.

Source: http://www.nationmultimedia.com/breakingnews/Support-new-economy-drivers-ministers-tell-SET-30273395.html

-- The Nation 2015-11-20

The Junta are showing their ignorance of how the stock exchange works (or rather how it is meant to work).

It's difficult to understand exactly what is being expected of the SET.

But if the SET is expected to develope capital markets, that might mean lowering SET standards and regulations for Thai companies in line with the s-curve strategy to become listed on the exchange. Thus, there would be more opportunity for foreign purchases of Thai company stocks that would generate more market capital. Such an approach would be very susceptible to fraudulent stock manipulation, especially if sanctioned by the current government.

If these "new drivers of the economy" are anything like drivers on the road, I see a crash coming, or at least driving the wrong direction on roads.