After the Forward Forward Party's victory in the last election, their promise to raise the minimum wage to 450 baht a day throughout Thailand during their first 100 days in government has sparked controversy. The Thai Chamber of Commerce and Industry (TCC) urges the future government to carefully consider this plan.
Central Region Economic Development Committee Chairman Tawatchchai Setjinda said raising the minimum wage to 450 baht per day for unskilled workers would only benefit the migrant workforce. This is due to the fact that most Thais are employed in the field of skilled labor.
At present, the minimum wage varies by province, ranging from 328 to 354 baht after the last increase in October last year. Tawatchai explained that since most migrant workers send their earnings back home, wage increases will not result in additional money circulating in the local economy.
He believes that the issue of raising the minimum wage should be left to a tripartite committee, as it includes representatives of workers, employers and the government, and not decided by the cabinet. Tawatchchai added that the payroll committee should take into account inflation and the cost of living in different provinces and set standards accordingly.
He also called on the Forward Movement Party to appoint qualified individuals to six economic portfolios - the ministries of industry, trade, energy, transport, finance and agriculture. He believes that the people in these six posts should be experienced and willing to work with the private sector to stimulate the economy.
A balanced approach needs to be taken when considering a plan to raise the minimum wage in Thailand. On the one hand, it is important to provide decent conditions for unskilled workers and support migrants, who play an important role in various sectors of the economy. On the other hand, it is necessary to take into account the peculiarities of the labor market and the economic situation in different provinces.
Raising the minimum wage can stimulate consumption and improve the living conditions of low-skilled workers, but the impact on businesses, especially small and medium-sized enterprises, should be considered. Therefore, the tripartite agreement committee must take into account economic sustainability and possible implications for various sectors.
In addition, the appointment of experienced and qualified individuals to key economic positions will ensure an effective partnership between the government and the private sector. Cooperation between them can help stimulate economic growth and create a favorable business environment.
