Economics

Thailand short on skills shows SMU study

The shortage of skilled workers is especially pronounced in Thailand’s key growth industries like the automotive, information communications and technology (ICT) and tourism sectors, the study shows.

Published

4 years ago

November 1, 2016

Boris Sullivan

Thailand faces a chronic and pervasive shortage of qualified technical and vocational workers across all industries, due to the challenges faced by both public and private tertiary education in keeping pace with industry demands, as well as a cultural bias towards a more academic education.

These are among the key findings from a year-long study conducted by the Singapore Management University (SMU), in partnership with global financial services firm JP Morgan, on the skills challenges faced by the Asean economies of Singapore, Malaysia, Indonesia, the Philippines and Thailand.

Addressing this shortfall is necessary if the country is to raise its productivity and realise its ambition of becoming a high income economy by 2027.

Currently, about 35% of Thai students are enrolled in vocational institutions, and of this group, a large number of graduates are found not to be industry-ready, the study shows.

This suggests a need to improve the Technical and Vocational Education and Training (TVET) education in the country, especially in the face of a cultural bias against the field.

Low proficiency in English

Low proficiency among the Thai workforce in foreign languages, especially English, poses a challenge.

According to the study, the challenge is compounded by the fact curricula in both public and private tertiary education institutions do not reflect the progressive needs of industry, such as research and development work in the automotive industry or the fast-changing skills requirements of ICT.

Low proficiency among the Thai workforce in foreign languages, especially English, poses a challenge for competing effectively internationally. Source : www.ef.co.th/epi/

Economics

Thai fruit exports to FTA markets up 107 percent

China, Malaysia, Singapore, Indonesia, the Philippines, Hong Kong, Australia and Chile are top importers of Thai fruits, especially fresh durian, mangosteen, longan and mango. Thai exporters are able to benefit from FTA privileges.

Published

10 hours ago

April 16, 2021

National News Bureau of Thailand

BANGKOK (NNT) – Thailand’s fruit exports continue to increase, despite the sluggish global economy caused by the COVID-19 pandemic, with key trade partners being countries that have free trade agreements (FTAs) with the kingdom.

(more…)

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

Published

3 weeks ago

March 28, 2021

Headline Editor

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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Economics

50:50 campaign may not get immediate extension

Published

3 weeks ago

March 26, 2021

National News Bureau of Thailand

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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