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Posted Date: 13 October 2008
Mrs. Voravan Tarapoom, Chairperson of the Association of Investment Management Companies (AIMC) and senior executives of member companies of the Mutual Fund Business Group, welcome Dr. Olarn Chaipravat, Deputy Prime Minister in charge of economic affairs, who visited exhibition booths of fund management companies at Mutual Fund Fair @ SET held during October 11-12, 2008 at the Stock Exchange of Thailand building.
Dr. Olarn Chaipravat delivered a speech and visited the exhibition staged at the event on October 11, 2008. In his speech, he talked about the governments preparation to cope with the financial crisis in the US and Europe. Measures would be taken to keep the money and capital markets unshaken, and the export and tourism sectors on track. The fiscal policy would concurrently be adopted with acceleration of budget disbursements, enhancement of liquidity for SME and speeding up investments in large infrastructure projects, with domestic economy used as the driving force.
Despite the heavy stock sell-off of foreign investors in the capital market, the Deputy Prime Minister said that there remained sufficient liquidity in the system. He suggested investors not to panic but to take this as investment opportunities. The government has been disseminating information to the public as guideline for investment opportunities in the capital market.
Meantime, there will be such stimulus measures for the capital market as increase of matching funds with expansion of participation amount by state banks, and more tax incentives via expansion of tax saving amount for LTF and RMF. These measures were scheduled to be put forward for the Cabinets endorsement on October 14, 2008.
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