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Thailand lacks labour skills and competitiveness

Only better education will improve Thailand’s industrial competitiveness and bring sustainable economic growth, says the president of the Thailand Development Research Institute.

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Only better education will improve Thailand’s industrial competitiveness and bring sustainable economic growth, says the president of the Thailand Development Research Institute.

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“However, access to college education is very limited for lower income families,” said Nipon Paopongsakorn in an interview with The Nation.Nipon was referring to the study “Schooling Access Inequality and Educational Wage Trends in Thailand, 1986 -2009” by Dilaka Lathapipat, which will be presented at TDRI’s annual forum on Monday and Tuesday.

The study found that between 1986-2009 wages of workers educated to high-school level increased more slowly than wages of people with primary and college educations. “It is peculiar because industries such as food processing still want to hire unskilled labour while high-tech industry demands college graduates,” said Nipon.

So workers with primary school education or foreign labourers from Burma are in high demand in labour-intensive industries, said Nipon.The number of students entering universities has increased substantially but the quality of education is vastly different between institutions. Those graduating from top universities get much higher pay, he said.

Industries also need to upgrade. There are few food producers such as CP Group that can invest in research and development leading to innovative products, Nipon pointed out.

via Education linked to labour skills and competitiveness.

Economics

The Future of Asia: greener but with a public and private debt hangover

The COVID-19 pandemic has been a perfect storm, destroying jobs, worsening poverty and inequality, and creating a public and private debt problem—especially for countries and firms already in fragile financial health beforehand

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The Sydney Opera resumed live performances and the city of Melbourne recently hosted the Australian Open tennis tournament with fans (mostly) in attendance.

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50:50 campaign may not get immediate extension

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BANGKOK (NNT) – The government’s 50:50 co-pay campaign expiring on 31st March may not be getting an immediate campaign extension. The Minister of Finance says campaign evaluation is needed to improve future campaigns.

The Minister of Finance Arkhom Termpittayapaisith today announced the government may not be able to reach a conclusion on the extension of the 50:50 co-pay campaign in time for the current 31st March campaign end date, as evaluations are needed to better improve the campaign.

Originally introduced last year, the 50:50 campaign is a financial aid campaign for people impacted by the COVID-19 pandemic, in which the government subsidizes up to half the price of purchases at participating stores, with a daily cap on the subsidy amount of 150 baht, and a 3,500 baht per person subsidy limit over the entire campaign.

The campaign has already been extended once, with the current end date set for 31st March.

The Finance Minister said that payout campaigns for the general public are still valid in this period, allowing time for the 50:50 campaign to be assessed, and to address reports of fraud at some participating stores.

The Fiscal Police Office Director General and the Ministry of Finance Spokesperson Kulaya Tantitemit, said today that a bigger quota could be offered in Phase 3 of the 50:50 campaign beyond the 15 million people enrolled in the first two phases, while existing participants will need to confirm their identity if they want to participate in Phase 3, without the need to fill out the registration form.

Mrs Kulaya said the campaign will still be funded by emergency loan credit allocated for pandemic compensation, which still has about 200 billion baht available as of today.

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Economics

Customs Department Considers Measures to Help SMEs

National News Bureau of Thailand

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BANGKOK (NNT) – The Customs Department is seeking ways to reduce the impact of the exemption on import tax and value-added tax (VAT) for imported goods worth up to 1,500 baht, as such measures are hurting small and medium-sized enterprises (SMEs).

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