Committee approves new formula for calculating minimum wages

13 Sept 12:24 Key points summarised by AI

The tri-partite Wage Committee has approved a new formula for calculating minimum wages, expected to be implemented in April, initially in Bangkok and nine other provinces.
The new formula incorporates key factors such as labor productivity, inflation rate, economic situation in each area, and the time elapsed since the last wage adjustment.
Provinces will use this formula to propose new minimum wage rates, which must be submitted to the Wage Committee by March 24th for April enforcement.
While the specific wage increase is not yet confirmed, small and medium-sized enterprises (SMEs) express concerns about the adjustments, whereas labor representatives view the new formula as fair.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.