Connect with us

Economics

Thailand to raise minimum wage

Business leaders Monday will discuss a radical government proposal to increase the daily minimum wage to 250 baht – 21 per cent higher than the current Bangkok rate of 206 baht. The minimum wage in Thailand is currently 206 baht per day in Bangkok and slightly less in the provinces. While not the lowest labor market in the region, Thailand’s workforce is among the most cost-efficient in the world

Olivier Languepin

Published

on

bath thailand bank notes

Business leaders Monday will discuss a radical government proposal to increase the daily minimum wage to 250 baht – 21 per cent higher than the current Bangkok rate of 206 baht. The minimum wage in Thailand is currently 206 baht per day in Bangkok and slightly less in the provinces. While not the lowest labor market in the region, Thailand’s workforce is among the most cost-efficient in the world

bath thailand bank notes

Prime Minister Abhisit Vejjajiva first floated the idea of a 250-baht minimum wage in June. In an address to Board of Trade members, he urged business leaders to think “out of the box” about ways to improve income distribution to promote social reconciliation.

His proposal will be debated Monday by the Joint Standing Committee on Commerce, Industry and Banking, which includes representatives from the Federation of Thai Industries (FTI), the Thai Chamber of Commerce and the Thai Bankers’ Association. Members hope to come up with a clear response to the government.

“This is because the government’s statement has caused confusion among business operators and might cause tremendous increases in their costs,” said FTI chairman Payungsak Chartsutthipol.

He said the FTI agreed that wages should increase but that the decision should rest with the tripartite Central Wage Committee, a group of government, employer and labour representatives that reviews rates every December.

“Increasing the minimum wage immediately to 250 baht per day is too high, and doing so might cause some provinces to increase wages by up to 100 baht, which will be a burden for business operators such as in Nan province, where the rate is 152 baht per day,” said Mr Payungsak.

Thailand should take the opportunity during the next few years to strengthen its productivity and competitiveness so that when demand resumes, Thailand will be in a position to jump the band wagon of global recovery. To do so requires serious efforts of all stakeholders in Thailand including the government, private sector, and academia. As these improvements take time, for Thailand to achieve them in time for the projected global recovery, the efforts must start right away.

The size of the work force in Thailand now exceeds 38.24 million (2009 est.), with the majority of the workforce under 35 years of age. Each year about 800,000 people join this force. Many standard labor practices apply, including mandatory severance packages, and overtime payments for work in excess of

The minimum wage in Thailand is currently 206 baht per day in Bangkok and slightly less in the provinces. While not the lowest labor market in the region, Thailand’s workforce is among the most cost-efficient in the world, as they have earned a reputation for diligence and adaptability.

2010 Minimum Daily Wage
BahtArea
206Bangkok and Samut Prakan
205Nakorn Pratom, Nonthaburi,  Pathum Thani and Samut Sakhon
204Phuket
184Chonburi  and Saraburi
181Ayutthaya
180Chachoengsao
178Rayong
173Nakhon Ratchasima, Pang-nga and Ranong
171Chiang Mai
170Krabi, Prachinburi and Lopburi
169Kanchanaburi
168Petchaburi
167Chantaburi and Ratchaburi
165Singhaburi and Angthong
164Prachaub Khiri Khan
163Loei, Samut Songcram and Sa Kaeo
162Trang
161Songkhla
160Chumporn, Trat, Nakhon Nayok, Narathiwat,  Yala, Lamphun and Ubon Ratchatani
159Nakhon Si Thammarat, Pattani, Pattalung, Satun,Surat Tthani, Nong Khai and Udon Thani
158Kamphaeng Phet, Chai Nnat, Nakhon Sawan, Suphanburi and Uthai Thani
157Kalasin, Khon Kaen, Chaing Rai, Buri Ram, Yasothon, Roi-et and Sakhon Nakhon
156Chaiyaphum, Lampang and Nong Bua Lamphoo
155Nakhon Phanom, Phetchabun, Mukgdahan and Amnat Charoen
154Maha Sarakham
153Tak, Phitsanulok,  Sukothai, Surin and Uttraradit
152Nan and Si Saket
151Payao,  Pichit, Phrae and Mae Hong Son

Source: Ministry of Labor, as of January 2010
Website: www.mol.go.th

View original here:
21 per cent raise in minimum wage debated

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.

National News Bureau of Thailand

Published

on

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.

Loading...
(more…)

Continue Reading

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

Avatar

Published

on

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

Loading...
(more…)

Continue Reading

Economics

50:50 campaign may not get immediate extension

National News Bureau of Thailand

Published

on

logomain

Loading...

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.

Source link

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,974 other subscribers

Latest

Trending