Beyond campaign rhetoric

Analysts cautiously welcome the market-friendly policies of the key parties, write Nuntawun Polkuamdee and Nareerat Wiriyapong

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With the Feb 8 general election on the horizon, equity analysts and investors are watching the economic and capital market proposals of major political parties, which collectively strike a broadly pro-investment tone.

Across the political spectrum, parties agree on the need for structural reforms aimed at strengthening governance, lifting market liquidity and modernising Thailand's financial system.

Representatives from eight parties signalled market-friendly policies, offering cautious optimism for investors.

However, analysts noted while these proposals could help restore confidence in the Thai capital market, any sustained recovery in Thai equities would ultimately depend on policy execution, regulatory consistency and political stability, rather than campaign rhetoric.

Nikorn Sachdev, a party-list MP candidate of the Klatham Party, said the party's economic and capital market policies focus on enhancing transparency and promoting sustainable growth.

Key proposals include the use of artificial intelligence (AI)-driven surveillance to improve market transparency, shifting investment incentives towards long-term investing and aligning capital market development with "Made in Thailand" initiatives and the Eastern Economic Corridor (EEC).

"We will continue effective policies from past governments and place strong emphasis on good governance, ensuring Thailand's capital market and economy grow in a stable and sustainable manner," he said.

Kanate Wangpaichitr, head of the economics team at the Thai Kao Mai Party, said the party aims to strengthen the institutional foundation of Thailand's capital market. Its proposals include the establishment of a Capital Market Court to accelerate securities-related cases, measures to boost liquidity through infrastructure funds, small and medium-sized enterprise (SME) support and a greater role for capital markets in shaping national economic strategy.