SET Seeks to Drive Thailand's Economic Advancement

Since you took the position of 14^th President of the Stock Exchange of Thailand (SET) on September 19, 2024, could you share your thoughts about your first 100 days?

Serving as the 14^th President of SET is a profound opportunity to contribute to Thailand’s economic development and strengthen the capital market’s role as a driver of growth. My vision is to support Thai enterprises across diverse sectors while creating opportunities for domestic and international investors to invest, save and build their financial potential, fostering long-term economic resilience and inclusivity.

During my first 100 days, I have focused on enhancing investor confidence and trust. This includes engaging with stakeholders across all sectors to gain deeper insights into the challenges and opportunities shaping Thailand’s capital market. I have prioritised open communication, fostering an inclusive environment where diverse perspectives are welcomed and valued. My goal is to build collaborative partnerships with public and private sector stakeholders to drive innovation, promote fairness and equality and elevate the Thai capital market’s competitiveness on the global stage.

What changed in your business over the last year and what was your biggest achievement? 

In 2024, Thailand witnessed a growing interest in sustainable and ESG investments, prompting significant advancements in SET’s initiatives. One of our key achievements was partnering with FTSE Russell to develop a sustainability scoring framework, enhancing ESG standards among Thai listed firms. Starting in 2026, SET will replace its current ESG Ratings with FTSE Russell's ESG Data Model. To ensure stakeholder readiness, the new framework will be deployed in a pilot phase in 2024-2025. The initiative aligns Thailand's capital market with global best practices in sustainability disclosure and investment.

Another notable milestone was the launch of the Thai Environmental, Social and Governance Fund (ThaiESG) in collaboration with Thai capital market stakeholders. This fund, offering tax benefits, allows investors to grow their savings while contributing to the country’s sustainability goals.

In response to increasing demand from next generation investors, Depositary Receipts (DRs) have gained popularity as a means to invest in well-known international stocks, enabling portfolio diversification and competitive returns. By 2024, over 60 DRs were listed on SET. To further expand this segment, SET is developing innovative products like fractional investments to make international markets more accessible to Thai investors.

What is your most important project this year (regulatory or otherwise)?

Amid increasing global economic uncertainty, SET will broaden stakeholders' awareness of corporate governance and capital market operations. All supervisory measures will be regularly analysed and reviewed to ensure their continued relevance to current market conditions. Communication efforts will be enhanced through proactive, timely content and user-friendly materials delivered via new media platforms and partnership networks. Fraud prevention and scam awareness initiatives will be focused to protect investors from fraud.

A cornerstone of SET’s success has been its commitment to promoting financial literacy. SET aims to boost financial literacy among next-generation investors, professionals, educators and influencers, while promoting corporate excellence and sustainable growth via the SET Learn Scape platform. This personalised learning solution emphasises upskilling and reskilling to support workforce development. In collaboration with public and private sector partners, SET will provide tailored financial and investment literacy content for targeted groups.

What are you most excited for in 2025?

Entering its sixth decade in 2025, SET stands ready to drive Thailand's economic advancement by fostering fair and inclusive growth opportunities for all. Under its three-year strategic plan, SET has devised three flagship projects designed to promote the development of the capital market via fair and inclusive growth.

The Jump+ program to catalyse listed companies' growth trajectories. The Jump+ initiative will be an acceleration platform, designed to enhance the value creation journey of high-potential listed firms across the Thai capital market. SET plans to launch a new index tracking the performance of successful Jump+ companies and provide analysis reports to promote informed investment decisions.

The Bond Connect Platform to increase access to government bond investments for retail investors and the general public, while also expanding the business prospects for market participants. The platform enables investors to participate in both primary market subscription, which is similar to the process of launching an IPO, and secondary market trading. The infrastructure will also enable investors to use their bond holdings as collateral for other investments.

The Carbon Market Platform to foster a robust carbon trading ecosystem. SET will support Thailand’s transition to a low-carbon economy and efforts to meet its 2050 net-zero commitments through comprehensive carbon ecosystem development. The effort aims to explore carbon market mechanisms through collaboration with partners, create a SET carbon solution for an internal footprint data management program, and establish an accredited training and certification program for external verifiers.

Guided by our vision "To Make the Capital Market 'Work' for Everyone," we are committed to delivering innovative solutions and tailored services for all market segments while upholding our social and environmental responsibilities to ensure the sustainable growth of Thailand's capital market and economy.

What are your biggest opportunities?

We aim to differentiate the Thai stock market by focusing on specific sectors and developing unique products tailored to meet investor demand. To attract entrepreneurs seeking fund raising opportunities, we must cultivate a distinct identity for the Thai stock market. Thailand's flagship enterprises in health care, agribusiness and food, as well as tourism-related operators, are encouraged to consider SET as their preferred platform for raising capital, given our position as a listing hub and a leader in these fields.

SET will deliver segment-specific solutions, broadening our product offerings to address diverse portfolio management and investment needs. Trading hours for products linked to international markets will be extended, accompanied by strategic outreach initiatives targeting foreign institutional investors via inbound and outbound roadshows, with an emphasis on China, Australia and the Middle East.

What do you see as the key themes and trends for your exchange and market infrastructure in 2025?

In 2025, SET is expected to experience growth driven by technological advancements, an increased focus on sustainability, a rise in fintech innovation, and enhanced market accessibility - key themes that will shape the financial landscape. Thailand's stock market infrastructure will evolve to cater to both institutional and retail investors, paving the way for a more modern, accessible and dynamic marketplace.

As technology rapidly transforms the financial sector and with people recognised as the most valuable asset in organisations, SET will prioritise digital and AI capabilities within its people development agenda to drive organisational readiness for future success. Additionally, AI-powered supervision will be developed to strengthen market surveillance, ensure effective regulatory implementation and provide timely investor alerts.

SET will also enhance its core infrastructure through key initiatives, including the launch of a new clearing and settlement system (SET Clear) in 2027, while continuously expanding IT service partnerships to scale system capabilities in line with capital market growth and participant needs.