Thai PBS Thai PBS
Businesses express concern over Move Forward minimum wage increase policy

Businesses express concern over Move Forward minimum wage increase policy

13 Sept 11:24 Key points summarised by AI
  • The Federation of Thai Industries (FTI) is scheduled to meet with the Move Forward party to express significant concerns over its policy to immediately raise the minimum wage to 450 baht/day.
  • Businesses, already struggling with recent economic challenges like the COVID-19 pandemic, inflation, and high operating costs, fear a sudden, one-step wage increase will severely impact their financial stability.
  • The private sector advocates for a gradual, step-by-step increase in the minimum wage, similar to the Pheu Thai party's proposed four-year implementation plan, to allow companies sufficient time to adapt and adjust.
  • Beyond the minimum wage, the coalition's MoU includes other economic items such as abolishing monopolies, promoting fair competition, land reform, and improving electricity production and pricing structures.
Read full article
Economy 1/1
Skip > Skip >