FETCO prepares 10-yr market roadmap

FETCO chairman Paiboon Nalintharangkul said yesterday that members will meet with Finance Minister Kittiratt Na-Ranong next month to submit the proposal.

Capital-market development should proceed as planned, but with some revisions to ensure competitiveness, Paiboon said.

FETCO will also propose that the Securities and Exchange Commission impose stringent regulations on the establishment of new securities companies to avoid disruptions to the industry’s development after market liberalisation. Without stringent regulation, operators will focus solely on price competition, which would lead to an overabundance of discount brokers who emphasise trading, at the expense of research.

He added that human-resource development should be seriously undertaken by companies to reduce head-hunting.

"We want to see foreign companies that invest here focus on human-resources development, rather than simply head-hunt each other," said Paiboon, adding that this would strengthen the country’s competitiveness when Asean becomes a single market.