Creating the Future of Finance - Breakthrough Innovation

K KASIKORNTHAI 20-Year National Strategy (2017-2036) ธนาคารกสิกรไทย 开泰银行 KASIKORNBANK (As defined in Section 65 of the Constitution of the Kingdom of Thailand and passed by the NLA in June 2017) To achieve the vision "Security, Prosperity, Sustainability", to become a high-income country, to improve quality of life, to generate high income, to escape the middle income trap, and to ensure well-being for all Thais "Security" Security Key Strategies "Prosperity" 2 Competitiveness enhancement Broadening Opportunity and Equality "Sustainability" Development and Empowerment Human Capital in Society 6 3 5 Environmentally- Friendly growth Reforming Government Administration " The Goals High income country: 15,000 USD per capita by 2036 (2016 income per capita = 5,901 USD) Economic growth around 5% per year (4-5% under 12th NESDB Social and Economic Development Plan and 5% for the next three NESDB 5-Year Plans) People of all ages healthy and with lifelong learning opportunities Target Gini: <= 0.36 (inequality measurement: lower figure indicates better income distribution) Forest area as percentage of total land area more than 40% Fully implement Digital Government Services Enhance Corruption Perceptions Index beyond 50Plus (the lower tier of least corrupt countries) National Strategy Committee: Chairman is the Prime Minister; Secretary is NESDB Secretary-General 34 committee members First 17 committee members are high-ranking state officials and leading industry experts such as the Prime Minister, members of the top brass, National Police Chief, Permanent Secretary for Defense, President of the House of Representatives, Chairman of the Federation of Thai Industries, President of the National Farmers Council, President of the Thai Bankers' Association, Chairman of the Thai Chamber of Commerce, etc. Second 17 Committee members are experts from various fields 2017 2022 T Aug17: Cabinet appointed committees. Jun17: NLA passed the law Jun18: Cabinet endorsed the plan Jul18: NLA approved the plan 2027 2032 The National Economic and Social Development Plan (5-year plan) aligned with the 20-year National Strategy The 12th National Economic and Social Development Plan (2017-2021) The 13th National Economic and Social The 14th National Economic and Social Development Plan (2022-2026) Development Plan (2027-2031) บริการทุกระดับประทับใจ 2036 The 15th National Economic and Social Development Plan (2032-2036) 133 K KASIKORNTHAI Government Policy: Long-term Policies ■ 20-Year National Strategy: To achieve the vision "Security, Prosperity, Sustainability," to become a high-income country, to improve quality of life, to generate high income, to escape the middle-income trap, and to ensure well-being for all Thais ■ Transport Infrastructure Development Plan: ➤ Project will reduce logistical costs, increase transportation speed of goods and people, as well as connect Thailand to neighbors along the East-West and North-South Economic Corridors ➤ Public Transport Infrastructure Investment 2015 to 2022: worth Bt2.59trn ■ Eastern Economic Corridor (EEC): Area for facilitating and attracting investment in 10 innovative target industries to transform Thailand into Thailand 4.0 ■ Digital Economy: ➤ NBTC awarded mobile licenses in various spectrums and launched 5G ➤ Government plans to adapt National Digital ID to speed up the process towards digital economy ■ BOI Measures for Supporting Private Investment: Tax and non-tax incentive measures to support private investment, such as Special Economic Zones (SEZS) (10 provinces, including Tak, Mukdahan, Sa Kaeo, Songkhla, Trat, Chiang Rai, Kanchanaburi, Nong Khai, Nakhon Phanom, and Narathiwat) ■Ten targeted industries as new engines of growth: Next Generation Automotive, Smart Electronics, Affluent Medical and Wellness Tourism, Agriculture and Biotechnology, and Food for the Future; New S-Curve (for new growth) consists of Robotics, Aviation and Logistics, Biofuels and Biochemicals, Digital, and Medical Hub ■Additional Incentives: Biotechnology, Nanotechnology, Advanced Materials Technology, and Digital Technology ธนาคารกสิกรไทย 开泰银行 KASIKORN BANK ■ Promote Establishment of International Headquarters (IHQ) and an International Trading Center (ITC) in Thailand: Help Thailand become a key trading nation in the region ■ ASEAN Economic Community (AEC): Since December 2015, ASEAN has transformed into the "ASEAN Economic Community," with free movement of goods, services, investment, and skilled labour, and a freer flow of capital; Strategic measures under the five characteristics in the AEC Blueprint 2025 will be operationalised through sectoral work plans and their implementation and monitored through the AEC 2025 Monitoring and Evaluation Framework ■Free Trade Area (FTA): Already signed FTA with ASEAN+3 (China, Japan, and Korea), India, Australia, New Zealand, Peru, Chile; In progress with Canada, European Union (EU), the Regional Comprehensive Economic Partnership (RCEP), and Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPATP) ■ Age Society: Mandatory retirement age for government and state enterprise officials will be extended from 60 to 63, effective in 2024 ■ Energy Policy: Reform petroleum concessions and energy price structures, including an LPG subsidy ■Tax Reform: Reform tax collection, generate sufficient revenue for the government, and boost competitiveness for local businesses, especially SMEs ■Constitution: National assembly seeks to amend the constitution section- by-section บริการทุกระดับประทับใจ Sources: Newspaper and KResearch (as of April 2021) 134

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