Kasikorn Research Centre KRC advises in a new report that the Thai government should further develop the skills of the country’s workers and their productivity so that Thai products can compete more effectively in the global market.
The KRC recommendations were made after the National Wage Committee decision Thursday to increase the daily minimum wage by Bt8-17 countrywide effective Jan 1.It said the increase is slightly higher than the inflation rate and is considered “positive news” to workers throughout the country.
However, Thai industry will encounter a challenging problem next year on the rise of operational costs due to the increase of the minimum daily wage and a decline in profit margin because of a fiercer competition in the market, both local and overseas.Thailand’s exports have been hurt by the strength of its baht currency and the shortage of skilled labour, KRC said.
via Think Tank: Skills, productivity of Thai workers must be improved.
