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ETDA, SEC and 8 other agencies partner to support digital tech

Image Credits: ETDA, Press Release

According to a recent press release, a Memorandum of Understanding (MOU) was signed to establish a collaboration between The Office of the Securities and Exchange Commission (SEC) and nine major digital agencies of the country.

These agencies were the Ministry of Digital Economy and Society (DE), the Digital Government Development Agency (DGA), Electronic Transactions Development Agency (ETDA), Digital Economy Promotion Agency (DEPA), King Mongkut’s Institute of Technology Ladkrabang (KMITL), CMKL University, ASEAN Chief Information Officer Association (ACIOA), Information systems security Association (TISA) and the Association of Information systems Audit and control (ISACA).

The parties will work together to develop the capital market to the SEC and the transition to the digital age. Grilled concrete

The Permanent Secretary for Digital Economy and Society stated that it is ready to support the SEC in issuing policies to supervise and operate digital law laws. To allow transactions in the Thai capital market to support such laws as well as creating digital leaders for SEC and supervisory personnel

The SEC Secretary-General said the SEC will supervise and develop the Thai capital market to be in line with the digital development plan for the economy and society. This will enable stability, prosperity and sustainability of Thailand particularly the development of digital technology which has a great influence on people’s lives and operations of the business sector today

The MOU will focus on bringing digital technology to help drive the capital market, facilitate the business sector and enabled public access to the capital market and create knowledge on fundraising and investment for people.

In addition, it will focus on developing a security system, cybersecurity as well as enhancing the performance of the SEC in order to keep up with and support rapid changes in the digital age.

The ETDA will cooperate on promoting the capital market in Thailand using digital technology to increase the competitiveness of entrepreneurs. This includes the creation of readiness and the environment in applying modern digital technology to facilitate the operation of operators to ensure security aimed at raising the level of service to consumers.

The DGA will be responsible for formulating strategies, policies and plans as well as developing practices that are in line with digital technology laws. In addition, it will work on expanding the capital market service to the public and develop the potential of services and operations in the capital market through tools and digital channels so that they comply with government policies and digital development plans for economy and society

The Digital Economy Promotion Agency (DEPA) will promote and support the development of channels that enable enterprises (especially SMEs) to access the Thai capital market. Moreover, it will aid SMEs and industry sectors in transitioning to digital age via the development and training of the ability to increase the capacity for digital leaders.

King Mongkut’s Institute of Technology Ladkrabang (KMITL) and CMKL University (CMKL) will jointly promote academic knowledge regarding digital technology for capital market personnel. They will promote research related to the capital market and supporting scholarships for students plan to work in the field of technology to develop the Thai capital market. CMKL will work to engage and exchange knowledge foreign institutions; for example, Carnegie Mellon – a leader in the field of data analytics and creating a readiness to maintain cybersecurity.

ASEAN Chief Information Officer Association (ACIOA) will work to develop and train talent to increase the capacity of digital leaders. This will be done in many ways including cooperating with agencies in ASEAN through the association network.

The Information Systems Security Association (TISA) will supervise the implementation of digital technology, making sure it is used safely.

The Information Systems Audit and Control Association (ISACA) will be responsible for creating ensuring that personnel are equipped with the skills they need to enter the capital market and effectively use digital technology to utilize in transaction operations. The agency will also work to develop operational efficiency and will monitor the use of digital technology to ensure safety.

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