The Federation of Thai Capital Market Organisations (Fetco) plans to partner with the government and private sector to expand the retail investor base, hoping to increase new securities trading accounts by a million annually.
Fetco also wants to partner with the government to draw in foreign investments through investor relations and promote startups and small and medium-sized enterprises to gain greater access to funding in the capital market.
Investors' securities trading accounts have been stagnant at 3 million accounts for many years, said chairman Paiboon Nalinthrangkurn, noting that the federation's first priority for this year is to boost the number of new securities trading accounts.
"I wish to see the accounts of the retail investor base rise by a million accounts every year," Mr Paiboon said.
Fetco also wants to support the country in investors relations to help build confidence in investing in Thailand among foreign investors.
The federation plans to help the government with investment roadshows in renowned financial hubs like Singapore, London, New York and Tokyo.
Fetco will also help push the National Pension Fund Act and the Trust Act for Personal Property Management to become effective in order to encourage compulsory savings, Mr Paiboon said.
"Low interest-rate returns have forced retail investors to seek higher investment returns away from the capital market," he said.
There is also a plan to support an amendment of the Limited Public Company Act in terms of electronic transactions and mergers and acquisitions and push forward the amendment of laws to help entities that are unable to invest in the capital market, such as trade associations, Mr Paiboon said.
Fetco aims to arrange investment campaigns to promote a better understanding of the importance of long-term investment and savings via Super Savings Funds (SSFs).
On Dec 3, the cabinet approved SSFs as a new tax-saving fund to replace long-term equity funds (LTFs), whose tax incentive lapsed at the end of 2019.
SSF investment conditions are more relaxed than those for LTFs, as SSF units can invest in any assets, while LTFs stipulate equities as the major investment asset.