Stock market for community enterprises mulled
Scheme will strengthen grassroots economy, says finance minister
published : 10 Dec 2019 at 19:08
writer: Wichit Chantanusornsiri
The Finance Ministry will next year push for the launch of a brand new stock market for community enterprises, Finance Minister Uttama Savanayana said on Tuesday.
Mr Uttama said the new market will provide small businesses with opportunities to raise funds and expand as part of efforts to strengthen the grassroots economy.
He said the Finance Ministry has discussed with the Stock Exchange of Thailand (SET), the Securities and Exchange Commission and the investors' association details of the new platform, which will run in addition to the main board and the Market for Alternative Investment.
According to Mr Uttama, rules governing the new exchange are likely to be more flexible than those governing the SET to encourage small businesses to seek investments for expansion. Trading will be considered next, he said.
The Finance Ministry and the SET will also carry out a programme to educate small businesses about financial technologies and prepare them for what is coming, he said. These include upgrading accounting standards and e-commerce.
Mr Uttama said that to strengthen the grassroots economy the government will have to do three things — provide the communities with proper knowledge, give them access to both online and physical markets and provide access to financial instruments.