regulations every five years. The responsible Ministries then have to conduct the review process, which shall be made known to public, and make recommendations to improve, revise, or repeal those laws and regulations under their responsibilities. Additionally, the related agencies shall, within two years as from the date the Royal Decree comes into force, translate the new laws and regulations in the working language of ASEAN and publish them via information technology system. The general public will thus gain free access to this information. Identification and Review of Proposed Regulations Enterprise Policy Office, - One of the key policy of the current government is to have - Currently, the Act for establishing such governance structure Ministry of Finance the - Owned Enterprises (SOEs) reformed, so that they can is now being drafted and supervised by the SEPC. be used as an effective mechanism to promote sustainable The proposed legislation is expected to be the Cabinet’s - economic and social development for Thailand. consideration within the first half of 2016. - The main objective of SOEs reforms is to increase efficiency - In addition to the above legal framework, the SEPC establishes and effectiveness, enhance transparency and accountability, and Holding Company” Establishment Subcommittee “National mitigate political abuses. to determine the action plan and timeframe for setting up National One of the main processes is to set up the ownership structure holding company, and propose the governance structure, budget, - (i.e. National holding company), which will be an independent personnel and compensation scheme supervision to manage and monitor the performance of major for National holding company. SOEs. This requires a new legislation that establishes the governance structure, outlining responsibilities and relationships among the State Enterprise Policy Committee (SEPC), the State Enterprise Policy Office, National holding company, and SOEs. The draft Act comprises two main parts which are 1) the overseeing of SOEs and 2) the establishment of the holding entity. According to the governance structure in the proposed - legislation, the SEPC will supervise 55 SOEs and will design policies in a macro perspective. These 55 SOEs are divided into 2 groups. On the one hand, National holding company will govern SOEs that are listed and limited companies (in the first
regulations every five years. The responsible Ministries then have to conduct the review process, which shall be made known to public, and make recommendations to improve, revise, or repeal those laws and regulations under their responsibilities. Additionally, the related agencies shall, within two years as from the date the Royal Decree comes into force, translate the new laws and regulations in the working language of ASEAN and publish them via information technology system. The general public will thus gain free access to this information. Identification and Review of Proposed Regulations Enterprise Policy Office, Ministry of Finance - One of the key policy of the current government is to have the - Owned Enterprises (SOEs) reformed, so that they can be used as an effective mechanism to promote sustainable economic and social development for Thailand. - The main objective of SOEs reforms is to increase efficiency and effectiveness, enhance transparency and accountability, and mitigate political abuses. - One of the main processes is to set up the ownership structure (i.e. National holding company), which will be an independent supervision to manage and monitor the performance of major SOEs. This requires a new legislation that establishes the governance structure, outlining responsibilities and relationships among the State Enterprise Policy Committee (SEPC), the State Enterprise Policy Office, National holding company, and SOEs. The draft Act comprises two main parts which are 1) the overseeing of SOEs and 2) the establishment of the holding entity. - According to the governance structure in the proposed legislation, the SEPC will supervise 55 SOEs and will design policies in a macro perspective. These 55 SOEs are divided into 2 groups. On the one hand, National holding company will govern SOEs that are listed and limited companies (in the first - Currently, the Act for establishing such governance structure is now being drafted and supervised by the SEPC. - The proposed legislation is expected to be the Cabinet’s consideration within the first half of 2016. - In addition to the above legal framework, the SEPC establishes “National Holding Company” Establishment Subcommittee to determine the action plan and timeframe for setting up National holding company, and propose the governance structure, budget, personnel and compensation scheme for National holding company.
Thailand_2016_IAP%20Submission.docx