Prime Minister Srettha Thavisin delivered a keynote speech at the Finance Ministry’s “Ignite Finance” initiative on Friday, a part of his “Ignite Thailand” vision to establish the country as a global financial center.

The “Ignite Finance” initiative aims to elevate Thailand on the global financial stage with a strategic focus on banking, securities, derivatives, digital assets, and insurance. It seeks to expand financial access for underserved communities and small businesses, promoting inclusive economic growth.

The initiative is built on three main pillars:

1) Future-Ready Regulation: The Finance Ministry emphasized the need for a flexible, transparent regulatory environment that supports investment. A proposed bill aims to consolidate regulations into a unified system, streamlining processes for businesses within the financial sector.

2) Next-Generation Incentives: “Ignite Finance” seeks to position Thailand as an attractive destination for financial institutions by embracing policies that facilitate foreign companies, including work visas, competitive tax structures, and strategic incentive programs.

3) Empowered Ecosystem: The initiative will develop an advanced and transparent legal framework to support financial activities, building on Thailand’s pioneering digital asset laws. It also emphasizes modern infrastructure to support businesses and improve the quality of life for their employees, fostering continuous growth and innovation within the ecosystem.

Source: Bangkok Post

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