SET roadshow stirs foreign funds in NY
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Foreign funds with combined value of more than US$45 trillion under asset management showed interest in a roadshow held last week by the Stock Exchange of Thailand, Bank of America Merrill Lynch, and Phatra Securities that focused on how the military-led
The roadshow drew a lot of attention from global institutional investors in New York after key government executives, including Finance Minister Sommai Phasee, provided a clear outlook on Thailand’s economy, the SET said.
SET president Kesara Manchusree said the roadshow successfully attracted foreign funds with a combined value of more than US$4.5 trillion under asset management investing in equities worldwide. This roadshow was also a good opportunity for the new finance minister to meet directly with foreign funds by giving a keynote speech on “The Economic Policy Agenda of the New Government of Thailand” presenting economic stimulus measures, improving competitiveness strategy, and administering the country with transparency and good governance.
“Most investors focused on how the government will manage the mass infrastructure projects and continuity of the government’s policy. It was significant that the finance minister has pledged to manage process restructuring and law reform with efficiency, enabling the administration to operate the policy continuously for the country’s long-term benefits,” Kesara said.
During the roadshow, Bank of Thailand Governor Prasarn Trairatvorakul stated the commitment to keep maintaining economic stability while preparing measures to create a favourable financial environment for investment, as well as making the financial sector ready for new business opportunities.
The governor also expressed an anticipation of Thailand’s economy growing by 4.8 per cent in 2015.
Moreover, a member of the State Enterprises Policy Commission, Veerathai Santiprabhob, provided information on how to reform state enterprises effectively, enabling them to become key mechanisms to drive the country’s economy.
The SET will hold another roadshow in the United States from October 27-30 in cooperation with KT Zmico Co and Auerbach Grayson and Co, with representatives from the Finance Ministry and top management of Thai firms to meet with US funds.
