Looking back, looking at the past, financial business - banking - Thai capital market Looking towards the future (final part)

Changes are happening rapidly in this world. both political economy and government in the era VUCA makes it more difficult for the legal reform process to be implemented quickly and in a timely manner. I want political parties to work together. Regardless of whether it is the opposition party or the government, we must work together to reform the law. It is not considered the opposition party or the government party.

First of all, I would like to wish Happy New Year 2566 to readers who have followed my articles all along. Ask for sacred things in the world May all readers be blessed with happiness and success in the coming new year. And this article is the final article and can be considered the longest article because it tells the story of 50 years but is up to date with the upcoming election. Because the future of Thailand depends on which way Thailand will reform.

This article is the final chapter of my study and work experience during over 44 years in the legal profession. Therefore, we look to the future of Thailand to see what structural legal reform will do in times of disruption.

Show off your face : Thailand's future
When I look back at my past Whether it is studying and working all the time, over 50 years ago, it makes me want to look forward to the future of the legal profession, which is the path I have chosen. And I consider myself very lucky to be able to study what I love and work on what I like, including being involved in various reform works. in Thailand in many forms

Looking ahead to the future of Thailand, especially the legal profession and Thai law reform in the financial market, capital market and taxation in the VUCA era, what should be done? As I have been involved with the government sector, Especially in the areas of legal and tax reform and the capital market in many matters. Lessons learned. the past as a guideline for the future It is a story that will be of some benefit to readers, more or less.

I would like to share my thoughts on the future of Thailand. It is divided into topics as follows:

1) The future of legal improvement and adjustment of the legal profession to accommodate changes or disruptions in the VUCA era caused by fluctuations. (Volatility), uncertainty (Uncertainty), Complexity (Complexity) and Ambiguity, such as in the case of COVID-19 and the war between Russia and Ukraine. that affect the economy and politics around the world, what should we do?

2) various reforms Especially with government law reform, how can political parties change the future of Thailand?

As for the future of improving the law and adapting the legal profession to accommodate changes caused by VUCA, legal practitioners in both the academic, public and private sectors are unable to adapt to the changes immediately. Adaptation of legal practitioners is therefore an important tool in preparing draft laws or enforcing modern laws.

From my experience as a teacher and writing book for more than 35 years, I found that the study of Thai law still has the same format and academics, that is, there are 4 laws: civil and commercial law, criminal law, civil procedure law, and criminal procedure law By adhering to the principles of lectures and Supreme Court judgments that are still the principles of studying Thai jurisprudence with the goal of becoming judges, prosecutors, and lawyers.

Even though there are currently new subjects being added. in the law program at the university, such as administrative law, business law, tax law, technology and digital law But the teaching methods, learning methods, and thinking methods are still similar to the original context. Even though there is currently an attempt at reform by the Legal Education Council of all the law faculties of Thailand and it is in the country's legal reform plan, it has just begun to be studied and analyzed. that What should the legal curriculum in Thailand be like? This should have been done a long time ago, even though it was stated in the current constitution.

Starting to improve the upstream legal education system is similar to putting the first button on correctly. In order to make the final result correct in order to have qualified lawyers who are ethical and knowledgeable and up-to-date with the world and events.

In addition to new technology or new laws That must be studied or taught in a university law faculty. teaching process and creating new knowledge Therefore it is extremely important. Teaching in the traditional way is lecturing, memorizing, and taking traditional exams. It is unlikely that Thailand will be able to create new knowledge, and the end result is that the process of enacting laws is delayed in time to respond to the changes that have occurred, and the law becomes an obstacle in solving the country's problems. and the development of the country is inevitable

I would like to propose adjustments to education and the legal profession as follows.

1. Legal studies It should be an interdisciplinary system. Or it is a joint study program to get two degrees, whether in law or business, such as between the Faculty of Law and the Faculty of Commerce and Accountancy. Law and economics between the Faculty of Law and the Faculty of Economics, etc. It may take a total of 2 years to study and get 5 degrees, reducing the time for the law program, which is really law, to no more than 2 years, and the remaining 3 years, such as related subjects. For a 2-year program, spend 4 year studying other interdisciplinary subjects. Related to the current world changes in politics, society, economy and technology.

I believe that if good lawyers are educated, they will be able to have the knowledge to develop draft legislation and understand law enforcement to keep up with changes in the world in a timely manner. It also helps very well to solve the problem of law students entering the legal profession with no knowledge in other fields.

2. Creating a body of knowledge by having legal textbooks in every field seriously. By promoting scholarships for writing legal textbooks. Along with investing in translating foreign legal textbooks in various academic subjects. It is up-to-date and requires textbooks to explain every legal matter. By improving it to include modern legal research that is consistent with the Thai social context.

Having good academic textbooks This would result in people in the legal process being able to study legal interpretations with reference to academic principles rather than different people reading the law and interpreting it in different directions according to their own interests.

I gave an interview in the Prachachat Thurakit newspaper on December 14, 2565, about opening a hunting plan. “Capital market crime” involves creating better capital market law knowledge. To enable law enforcement to be fast and efficient

3. Question: What legal subject should lawyers study in order to work in the legal field? I see that learning new laws Whether it is law regarding technology digital law Banking and Finance Law Tax law or international trade law Related to ESG is something that lawyers must develop and learn.

I believe that it is a good law that will be able to meet the needs of all sectors, whether the government, the private sector, or the public. However, the Faculty of Law in Thailand and the legal profession must accept the change. These things include The process of justice must begin with upstream to downstream That has to change a lot. Since the beginning of studying law, drafting laws law enforcement Including the process of selecting and training to provide knowledge to prosecutors, judges, investigators and lawyers.

I expect that the Legal Education Council, the Thai Bar Association and the Faculty of Law Every organization should be an organization that must reform and change research models. Serious legal teaching and training

As both a professional practitioner of business law, a lecturer in many educational institutions and author of several books, I believe that if we cannot seriously reform Thailand's legal structure, Success in other reforms It will be even more difficult, especially when there are changes and disruptions that occur in the VUCA era.

Therefore, I would like to look into the future and ask various agencies Those involved help each other think outside the box in educational reform. and practicing the legal profession which is important and must be done seriously Society must take part in giving opinions and supporting changes like this. We can study examples of both success and failure in foreign countries.

For legal professional personnel today, I believe that as long as the legal education of Thailand Still unable to update and change quickly to keep up with events It is the direct duty of those legal professionals. Having to adjust yourself to learn new laws By yourself by reskilling in learning new things.

By now Can access education or various information Can be abroad By studying online with complete information Therefore, it is the duty of lawyers to focus on acquiring new knowledge on their own. Legal professional organizations should provide courses. Additional information can also be provided to all professionals.

For me, I see that Fintech and digital law public health law Public Health Research, Intellectual Property Law, Tax Law, Wealth Management, Family Business both both domestically and abroad. Including the importance of Environment, Social and Governance (ESG) that is beginning to affect the capital market and businesses in every sector of Thailand.

Traditionally, we tend to focus on CSR in the areas of benefiting the public and society and corporate governance, which does not have much effect on the Thai capital market. But today it's about the environment. (Environment) whether it is Net Zero Carbon or a BCG business, society (Social) and good corporate governance (Governance) are extremely important matters.

Nowadays, it is important to build personnel in this area of ​​ESG. Currently, various institutions in the Thai capital market, such as the Securities and Exchange Commission, Stock Exchange of Thailand Listed Companies Association The Thai Company Directors Association (IOD) also places importance on this matter. It is therefore expected that In the future, knowledge in this matter will be able to be used in actual practice in business. Therefore, it is something that every sector must learn about.

Legal reform perspective : future

I have written in this article many times that From my experience, I have been involved in legal reform in many matters, whether it is legal reform in various agencies. of the government and political sectors and the private sector, some proposals have also been considered. Some were not considered.

But I see that if it is a proposal for reform in important matters or structural reform, it was found that Thailand was unable to do it. This is due to the limitations of the thinking system and working system of the government sector. with the traditional Thai structure and the political sector that is afraid of losing popular votes because legal reform must have beneficiaries. And more importantly, if the reform does not receive approval from all government agencies, it is really difficult to do. Therefore, if the government does not have real intention in legal reform

In the past, I found that legal reform in Thailand has It often occurs in situations where the government or politics Not in normal condition You may look at the number of laws that have been passed, but I don't mean that legal reform means having a lot of laws. But it depends more on having laws that are appropriate, timely and enforceable according to their objectives.

I therefore hope that in the future of the new elections in the coming year there will be various political parties. Will seriously raise legal reform in the campaign. It should start with what legal structure reforms will be undertaken and a clear timeline. By studying the proposals of the National Legal Reform Commission. The Urgent Law Reform Committee has done quite a bit of study. By bringing it into political party policy into actual practice.

The rapid changes occurring in this world, both in economics, politics, and governance in the VUCA era, make it necessary for the legal reform process to be implemented quickly and in a timely manner. I want there to be cooperation between political parties, regardless of opposition parties. or government department That requires cooperation to reform the law without considering the opposition party or the government party.

In new elections in the future, it is therefore my hope that Thailand will overcome what it has faced many times in the past. I will wait and see if there are any political parties that will seriously announce their intention to reform the law.

The future of Thailand will be progressive, stable, and sustainable in time for the VUCA era. Political parties must have serious legal reform policies.

Happy New Year.