The Stock Exchange of Thailand (SET) is set to propose the 'Thailand Individual Savings Account (ISA)' to the Finance Ministry, aiming to promote long-term investment in the Thai stock market.

Modeled after Japan's Nippon Individual Savings Account (NISA), the Thailand ISA seeks to provide tax exemptions for individual investors to enhance market participation and investor confidence.

The proposed Thailand ISA would allow investors to receive income tax exemptions up to a specified limit, with capital gains from share sales also being tax-free, thereby incentivizing long-term investment.

This initiative is part of a broader strategy by the SET to revitalize the Thai stock market, which has experienced a 14.15% decline in the SET index since December 30 of the previous year, reaching 1,202.03 points as of March 7. Other measures include drafting an omnibus legal reform to consolidate multiple laws for rapid implementation, launching the Jump+ programme to support business expansion of listed firms, lifting restrictions on share buybacks for financially capable companies, encouraging firms in emerging industries to list on the stock market, and introducing a dual-class share structure to attract family-run businesses.

These comprehensive measures aim to stabilize the market, attract new investments, and foster long-term growth in Thailand's stock exchange.