SEC, the Office of Social Enterprise Promotion (OSEP) and the Social Enterprise Thailand Association (SE Thailand) has teamed up with multiple social enterprises for the aforementioned seminar which is graced by the presences of Mr. Jurin Laksanawisit, the Deputy Prime Minister of Thailand and the Minister of Commerce, who inaugurated the event, and Mr. Kobsak Pootrakool, Deputy Secretary-General to the Prime Minister for Political Affairs, who held a special lecture on “Social Enterprises as Foundation towards Sustainable Development” on Monday 16 September 2019 at the Centra by Centara Government Complex hotel and Convention Centre Chaeng Watthana.

SEC Secretary-General Ruenvadee Suwanmongkol said that SEC, as a supervisor and developer of the capital market, has a policy to support the enterprises that have registered with the OSEP under the Social Enterprise Promotion Act B.E. 2562 (2018) to be able to swiftly and conveniently access the sources of investment funds with low costs. SEC is currently in the process of drafting regulations, which are expected to be enforced within this year, that would permit the social enterprises, who are non-profit unlike ordinary businesses, to offer stock to the public without the necessity to request for permission from SEC, according to the meeting resolutions of SEC Board on 1 August and of the Capital Market Supervisory Board (CMSB) on 5 September, which approved the promotion of social enterprises to be able to raise funds for the development of communities, societies, and the environment.

SEC will further collaborate with the OSEP in regards to the necessary information that must be provided by the social enterprises to the public for them to be able to decide to participate with the social enterprises or buy any shares thereof. For instance, of such information, a clear text which states that “fund-raising businesses are non-profit social enterprise”, as well as the information on the business, program details, and performance report. Furthermore, social enterprises must all have good business management, which should apply the main principles from corporate governance codes of SET to its management. In this regard, SEC and the OSEP will deliberate further, in accordance with Article 5 of the Social Enterprise Promotion Act B.E. 2562 (2018), which stipulates that social enterprises must have good corporate governance in its management.

Director-General of the Social Development and Welfare Department and Head Incumbent of OSEP Mrs. Napa Settakorn said that the promotion and encouragement of social enterprises are one of the important policies of the government to build a shared value between the business sector, the social sector, and the consumer sector in the form of social enterprises benefitting the communities. Businesses that are registered as social enterprises under the Social Enterprise Promotion Act B.E. 2562 (2018) must have the main objective to resolve issues in or to develop communities, societies, or the environment. They are granted the rights to benefits, such as tax incentives, and the OSEP is currently in the process of drafting subordinate legislations and other related procedures, for the promotion of social enterprises to operate in a concrete manner, for all sectors to understand a clear path of development and to play a role in the promotion and encouragement of social enterprises for the communities of the country.

Thailand Member of the Board of Association Ms. Kesara Manchusree said that the Social Enterprise Thailand Association (SE Thailand) is founded upon a collaboration of social enterprises around Thailand with the shared objective to further the cooperation between members and other domestic or international organizations, to promote social enterprises to achieve their performances, as well as resolving social and environmental issues, to expand the result of the resolution to a wider audience. The SE Thailand emphasizes the development of the perfect eco-system for the multiplication of such social enterprises, it also emphasizes the building of potential for social enterprises, the spread of awareness for the public to understand more about social enterprises, the cooperation and participation of the public in the promotion of positive impacts on the society and the environment.

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