The chairmen of the Thai Chamber of Commerce (TCC) and the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) support improving Thai workers’ income levels but are not ready to endorse the 400-baht nationwide increase.
TCC chairman Sanan Angubolkul said the proposal to bring the daily minimum wage to 400 baht nationwide was concerning because global and domestic economic volatility caused by geopolitical factors pose challenges for Thailand and its business sectors.
Sanan says a more context-sensitive approach can be taken to adjusting the minimum wage, taking into account the country’s economic and social dynamics and potential impacts on various sectors.
He said the proposed uniform minimum wage does not consider the diverse economic and social conditions across different provinces. Over 90% of the provincial subcommittees on minimum wage adjustments, which include representatives from employers, employees, and the government, are against this proposal, with 30% voting against any wage increase.
A significant wage hike could increase production costs, reduce competitiveness, and adversely impact employment, especially now that the economy is still fragile.
Source: The Nation (Thailand)
