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SEC takes off Strategic Plan 2021-2023 using 8 key strategies to achieve 5 goals for stronger capital market

Thursday 11 February 2021 | No. 29 / 2021

Bangkok, 11 February 2021 – The Securities and Exchange Commission (SEC) has announced the Strategic Plan 2021-2023, which focuses on eight key strategies to achieve five goals for strengthening the Thai capital market, i.e., 1. Recovery and Strengthening, 2. Sustainability, 3. Accessibility, 4. Competitiveness and Connectivity, and 5. Trust and Confidence. The Strategic Plan covers and connects in all aspects with the National Strategy, the National Economic and Social Development Plan, the Capital Market Development Plan and the Ad-hoc Master Plan under the National Strategy in response to COVID-19 situations. SEC has also taken into consideration the megatrends and views of stakeholders in all areas to further develop the Thai capital market.

SEC has announced the SEC Strategic Plan 2021-2023 today at the conference under the theme, “Strengthening Resilient Future.” Mr. Arkhom Termpittayapaisith, Minister of Finance, presided over the opening ceremony and gave a keynote address on the topic, “The Roles of the Capital Market and the National Economic Development 2021.” He also presented the ASEAN Corporate Governance Scorecard Awards to Thai listed company recipients. The conference was held at The Athenee Hotel Bangkok.

Finance Minister Arkhom Termpittayapaisith said: “As a regulatory agency, SEC plays an important role in supervising and developing the Thai capital market to build market confidence, efficiency and accessibility for all sectors. The capital market serves as a mechanism to mobilize funds between businesses and investors, which can lead to business expansion, employment, and more competitive edge of local businesses. This translates into the overall economic benefits of the country at large thanks to a close collaboration between SEC and the government sector over the years.

“I would like to stress the important policies for the capital market, namely (1) To facilitate business continuation for businesses affected by COVID-19 crisis, (2) To create capital market accessibility for both investment and fundraising to alleviate national inequality, (3) To enhance market confidence and competitiveness, (4) To develop sustainable finance whereby the capital market facilitates capital allocation to support economic activities that take into account environmental, social and governance (ESG) issues, and (5) To use technology and innovation to enhance developmental efficiency, supervision and investor protection appropriately in all aspects. Regarding digital assets, SEC must closely monitor and supervise digital asset businesses and educate investors so that they become knowledgeable and capable of managing their own risks,” added the Finance Minister.

Mr. Pichit Akrathit, Chairman of the SEC Board, said: “Capital market plays a key role in supporting Thailand’s economic and social development. In laying out the Strategic Plan 2021-2023 to support such important role, SEC assessed the current situations, analyzed the megatrends and took into consideration views of stakeholders in all areas. SEC also aims to address the national issues and truly serve the needs of all target groups. In terms of internal excellence, SEC is strengthening capacities of the organization to cope with change and achieve the SEC Mission.”

Ms. Ruenvadee Suwanmongkol, SEC Secretary-General, said: “In laying out the SEC Strategic Plan 2021-2023, we took into consideration relevance and connection to the National Strategy and the Capital Market Development Plan. We also considered the changing environments and the new age of the financial world which can bring about both opportunities and challenges to business sectors and regulatory agencies in the Thai capital market. SEC has set five goals and priorities to address two types of current key issues, namely (1) urgent issues regarding building liquidity, recovery and strengthening capital market to support economic growth and competitiveness, and (2) fundamental issues regarding building reliability and resilience of the Thai capital market and robust foundation to support sustainable growth.”

The SEC Strategic Plan 2021-2023 maintains the four goals and seven key strategies from the SEC Strategic Plan 2020-2022 and adds the goal of “recovery and strengthening” and the Ad-hoc Master Plan to ensure that the capital market’s regulations will not impose obstacles and will provide tools for building liquidity for businesses affected by COVID-19 pandemic. Thus, there are five goals and the following eight strategies:

(1) Building a capital market ecosystem conducive to sustainability development;

(2) Promoting financial well-being for the public through savings and long-term investment for retirement;

(3) Supporting growth and financing of small and medium enterprises (SMEs) and startups;

(4) Enabling regulatory framework and international connectivity to enhance competitiveness and create opportunities;

(5) Implementing digital technology to increase the capital market’s capacities and supervision;

(6) Enhancing supervision and effective enforcement in the Thai capital market;

(7) Ensuring systemic risk management in a timely manner;

(8) supporting liquidity enhancement tools for businesses affected by COVID-19 crisis.

The conference also featured a panel discussion on the topic, “SEC Strategic Plan and Economic Direction and the Capital Market 2021.” The guest panelists were Dr. Kulaya Tantitemit, Director-General of the Fiscal Policy Office, DR. Anuchit Anuchitanukul, Governor of the Stock Exchange of Thailand (SET), Mr. Paiboon Nalinthrangkurn, SET Governor and Chairman of the Federation of Thai capital market organizations, Dr. Kirida Bhaopichitr, Director of the Economic Intelligence Service (EIS), Thailand Development Research Institute (TDRI). They shared useful views on the SEC Strategic Plan for the public to consider further investment in the capital market. Ms. Sinida Petchveerakul was the modulator of the panel discussion.

The ASEAN Corporate Governance Scorecard 2019 Awards (based on companies’ public information in 2018) were given to listed companies in six ASEAN countries under the cooperative framework and support from the ASEAN Capital Markets Forum (ACMF) and the Asian Development Bank (ADB), with an emphasis on business operation based on the good corporate governance principles, which are the foundation of sustainable development. And, Thai listed companies obtain the highest average score in ASEAN for six consecutive years. The Awards are divided into three categories, namely:

(1) ASEAN Asset Class PLCs Award for companies obtaining 97.50 scores or more, given to 42 Thai listed companies out of 135 ASEAN listed companies, the highest number in ASEAN;

(2) ASEAN Top 20 PLCs Award, given to the top 20 companies obtaining the highest scores in ASEAN, including four Thai listed companies, namely Bangchak Corporation Public Company Limited (BCP), PTT Exploration and Production Public Company Limited (PTTEP), PTT Public Company Limited and Thai Oil Public Company Limited; and

(3) Country Top 3 PLCs Award, given to the top three listed companies obtaining the highest scores in each country*

_____________________

Note: The lists of companies obtaining 97.50 scores or more and the award recipients are available at: https://www.sec.or.th//Documents/News/Attach/8649/Namelist%20of%20Awardees.pdf.

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NEWS

Securities and Exchange Commission

Corporate Communication and Investor Service Department

Tel. (66)2033-9502-5 E-mail: press@sec.or.th

No. 29 / 2021	Thursday 11 February 2021
SEC takes off Strategic Plan 2021-2023 using 8 key strategies to achieve 5 goals for stronger capital market
Bangkok, 11 February 2021 – The Securities and Exchange Commission (SEC) has announced the Strategic Plan 2021-2023, which focuses on eight key strategies to achieve five goals for strengthening the Thai capital market, i.e., 1. Recovery and Strengthening, 2. Sustainability, 3. Accessibility, 4. Competitiveness and Connectivity, and 5. Trust and Confidence. The Strategic Plan covers and connects in all aspects with the National Strategy, the National Economic and Social Development Plan, the Capital Market Development Plan and the Ad-hoc Master Plan under the National Strategy in response to COVID-19 situations. SEC has also taken into consideration the megatrends and views of stakeholders in all areas to further develop the Thai capital market.
SEC has announced the SEC Strategic Plan 2021-2023 today at the conference under the theme, “Strengthening Resilient Future.” Mr. Arkhom Termpittayapaisith, Minister of Finance, presided over the opening ceremony and gave a keynote address on the topic, “The Roles of the Capital Market and the National Economic Development 2021.” He also presented the ASEAN Corporate Governance Scorecard Awards to Thai listed company recipients. The conference was held at The Athenee Hotel Bangkok. Finance Minister Arkhom Termpittayapaisith said: “As a regulatory agency, SEC plays an important role in supervising and developing the Thai capital market to build market confidence, efficiency and accessibility for all sectors. The capital market serves as a mechanism to mobilize funds between businesses and investors, which can lead to business expansion, employment, and more competitive edge of local businesses. This translates into the overall economic benefits of the country at large thanks to a close collaboration between SEC and the government sector over the years. “I would like to stress the important policies for the capital market, namely (1) To facilitate business continuation for businesses affected by COVID-19 crisis, (2) To create capital market accessibility for both investment and fundraising to alleviate national inequality, (3) To enhance market confidence and competitiveness, (4) To develop sustainable finance whereby the capital market facilitates capital allocation to support economic activities that take into account environmental, social and governance (ESG) issues, and (5) To use technology and innovation to enhance developmental efficiency, supervision and investor protection appropriately in all aspects. Regarding digital assets, SEC must closely monitor and supervise digital asset businesses and educate investors so that they become knowledgeable and capable of managing their own risks,” added the Finance Minister. Mr. Pichit Akrathit, Chairman of the SEC Board, said: “Capital market plays a key role in supporting Thailand’s economic and social development. In laying out the Strategic Plan 2021-2023 to support such important role, SEC assessed the current situations, analyzed the megatrends and took into consideration views of stakeholders in all areas. SEC also aims to address the national issues and truly serve the needs of all target groups. In terms of internal excellence, SEC is strengthening capacities of the organization to cope with change and achieve the SEC Mission.” Ms. Ruenvadee Suwanmongkol, SEC Secretary-General, said: “In laying out the SEC Strategic Plan 2021-2023, we took into consideration relevance and connection to the National Strategy and the Capital Market Development Plan. We also considered the changing environments and the new age of the financial world which can bring about both opportunities and challenges to business sectors and regulatory agencies in the Thai capital market. SEC has set five goals and priorities to address two types of current key issues, namely (1) urgent issues regarding building liquidity, recovery and strengthening capital market to support economic growth and competitiveness, and (2) fundamental issues regarding building reliability and resilience of the Thai capital market and robust foundation to support sustainable growth.” The SEC Strategic Plan 2021-2023 maintains the four goals and seven key strategies from the SEC Strategic Plan 2020-2022 and adds the goal of “recovery and strengthening” and the Ad-hoc Master Plan to ensure that the capital market’s regulations will not impose obstacles and will provide tools for building liquidity for businesses affected by COVID-19 pandemic. Thus, there are five goals and the following eight strategies: (1) Building a capital market ecosystem conducive to sustainability development; (2) Promoting financial well-being for the public through savings and long-term investment for retirement; (3) Supporting growth and financing of small and medium enterprises (SMEs) and startups; (4) Enabling regulatory framework and international connectivity to enhance competitiveness and create opportunities; (5) Implementing digital technology to increase the capital market’s capacities and supervision; (6) Enhancing supervision and effective enforcement in the Thai capital market; (7) Ensuring systemic risk management in a timely manner; (8) supporting liquidity enhancement tools for businesses affected by COVID-19 crisis. The conference also featured a panel discussion on the topic, “SEC Strategic Plan and Economic Direction and the Capital Market 2021.” The guest panelists were Dr. Kulaya Tantitemit, Director-General of the Fiscal Policy Office, DR. Anuchit Anuchitanukul, Governor of the Stock Exchange of Thailand (SET), Mr. Paiboon Nalinthrangkurn, SET Governor and Chairman of the Federation of Thai capital market organizations, Dr. Kirida Bhaopichitr, Director of the Economic Intelligence Service (EIS), Thailand Development Research Institute (TDRI). They shared useful views on the SEC Strategic Plan for the public to consider further investment in the capital market. Ms. Sinida Petchveerakul was the modulator of the panel discussion. The ASEAN Corporate Governance Scorecard 2019 Awards (based on companies’ public information in 2018) were given to listed companies in six ASEAN countries under the cooperative framework and support from the ASEAN Capital Markets Forum (ACMF) and the Asian Development Bank (ADB), with an emphasis on business operation based on the good corporate governance principles, which are the foundation of sustainable development. And, Thai listed companies obtain the highest average score in ASEAN for six consecutive years. The Awards are divided into three categories, namely: (1) ASEAN Asset Class PLCs Award for companies obtaining 97.50 scores or more, given to 42 Thai listed companies out of 135 ASEAN listed companies, the highest number in ASEAN; (2) ASEAN Top 20 PLCs Award, given to the top 20 companies obtaining the highest scores in ASEAN, including four Thai listed companies, namely Bangchak Corporation Public Company Limited (BCP), PTT Exploration and Production Public Company Limited (PTTEP), PTT Public Company Limited and Thai Oil Public Company Limited; and (3) Country Top 3 PLCs Award, given to the top three listed companies obtaining the highest scores in each country* _____________________ Note: The lists of companies obtaining 97.50 scores or more and the award recipients are available at: https://www.sec.or.th//Documents/News/Attach/8649/Namelist%20of%20Awardees.pdf.