Politicians from major parties presented their policies about the economy on Friday including those aimed at tackling poverty, boosting the domestic bourse by more than 50% to 2,500 points within four years and providing state welfare benefits.
Representatives of various parties were invited to a seminar held by the Federation of Thai Capital Market Organisations (Fetco) in Bangkok to present their visions for the economy and capital market if they are elected to form the next government after the March 24 election.
Fetco chairman Paiboon Nalinthrangkurn said he wanted politicians to pay more attention to the Thai capital markets as these play a key role in mobilising financial resources for the private sector.
After the poll, foreign capital flows worth an estimated 100 billion baht are expected to return to the stock market, said Mr Paiboon. Over the past five years, foreign investors' net sales of Thai equities are estimated at over 600 billion baht.
Investors are not concerned about who will be elected but they are keen to know whether the new government will be able to carry out their policies, Mr Paiboon said.
Korn Chatikavanij Democrat Party deputy leader
The party wants to see the Stock Exchange of Thailand (SET) Index reach 2,500 points by 2023 to reflect the country's growing economic success.
The party has been committed to tackling poverty in parallel with improving the economy and the capital markets, as it would extend income insurance measures, which have proved efficient in helping debt-ridden farmers, to cover labourers. Another policy would be to set the national poverty line at 120,000 baht per year. Anyone who lives below that line would receive a different amount from the government.
Uttama Savanayana Palang Pracharath Party (PPRP) leader
Capital markets are essential for the development of SMEs.
The PPRP's key policies include providing Pracharath (people-state partnership) welfare benefits to the people covering public health, education and the right to a livelihood.
Another key policy is the Pracharath model to boost the country's global competitiveness, promote sustainable growth and distribute wealth to communities, Mr Uttama said, adding the party also aims to create a so-called Pracharath society to equip Thai people for the 21st century.
Kittiratt Na-Ranong Pheu Thai Party's deputy leader
Balance is a key in economic management and this means balancing growth, stability and the distribution of wealth.
"But we're now out of balance, especially in terms of wealth distribution," Mr Kittiratt said.
The Pheu Thai Party plans to cut spending, boost income and expand opportunities if it rises to power, and would carry on with the regime's projects as they have proven useful.
Some projects would have to be improved, including the government's flagship Eastern Economic Corridor (EEC) project as it tends to favour big business.
Anutin Charnvirakul Bhumjaithai Party leader
This election should be used to reset the economic system which has been in poor health for 12 years. The party's economic policy is designed to improve people's livelihoods.
National development should be given priority over weapons procurement.
"Moreover, discretionary powers should be dropped. We need to adopt something else, like a checklist," Mr Anutin said.
"The Securities and Exchange Commission [SEC] doesn't use its discretion when considering the proposed listing of a company. If the conditions are met, an IPO can proceed. Other agencies should adopt the same procedure."
Suwat Liptapanlop Chart Pattana Party chief adviser
Domestic capital markets are a key factor in developing the country's economy, both at the macroeconomic and grassroots levels.
"We want to see the economy on both levels achieve stable and sustainable growth," Mr Suwat said. The party believes this could be achieved by reducing public debt and narrowing the income gap.
Academic research should be applied to improve capital markets and technologies like artificial intelligence (AI) and robotics, while big data analytics should be harnessed to strengthen the industrial sector.
Pichai Naripthaphan Thai Raksa Chart Party economic team member
Economic policy should focus on ensuring the country catches up with the rest of the world.
The new government must come up with measures to deal with years of slow economic growth as well as inequality problems, an ageing society, and an expected rise in unemployment as a result of robotic and AI technologies.
Thailand should be made a regional hub in Asean for more industries through greater integration
"Most Thais should benefit from the stock market, not only the rich and the middle class," Mr Pichai said.