National —
At 1:30 PM, on July 19th, 2024, Thai Prime Minister Srettha Thavisin presided over a press conference for a Financial Hub project under the theme “Ignite Finance: Thailand’s Vision for a Global Financial Hub.”
Srettha stated that the Financial Hub project aims to transform Thailand’s industrial structure from manufacturing to high-value services, particularly in finance. He highlighted the strength of Thailand’s economy, driven by manufacturing and domestic tourism, but emphasized the need to attract high-value industries, especially knowledge-based sectors like finance, investment, and banking.
A key strategy is to attract foreign capital by creating a business-friendly environment. Neighboring countries have adjusted their laws to facilitate business operations, making it easier to find talent and conduct trade and investment, said Srettha.
Thailand must follow suit by providing clear legal frameworks and world-class facilities such as airports, hotels, restaurants, hospitals, and educational institutes, remarked Srettha.
Srettha assured that with one-stop services, investment incentives, and capital management clarity, Thailand can become a financial leader in the region. He also stressed the importance of financial innovations like virtual banks and loan guarantees, which will enhance financial inclusivity, leading to increased investments, job opportunities, and improved quality of life for citizens.
Srettha concluded that the growth of the financial ecosystem will not only create jobs with leading global companies but also connect Thai businesses to global markets through the expertise and networks of professional service firms.
