Thursday, December 12, 2019

Finance chief Uttama orders officials to study proposal for sustainable equity fund

Aug 09. 2019
Uttama Savanayana
Uttama Savanayana
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By THE NATION

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Finance Minister Uttama Savanayana has told the Fiscal Policy Office to study a proposal from an investment grouping that a sustainable equity fund (SEF) be set up to replace the long-term fund (LTF).

The study will focus on how the SEF can play a crucial role in encouraging people to save and further enhance the capital markets, Uttama said. 

The proposal to establish the SEF was put forward by the Federation of Thai Capital Market Organisations (FETCO).

Uttama said that the issue of whether the tax benefits for LTF investors would be cancelled had yet to be finalised. If the granting of the tax benefits continued, it should be awarded via a new kind of fund. 

It is envisaged that the new fund would encourage individuals to direct their savings into the capital markets.

Separately, Uttama said that the ministry supported the establishment of the National Pension Fund (NPF) and the e-business law. The bills to enable both laws will be forwarded to the Council of State for scrutiny.

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