BANGKOK (NNT) – Thailand expects investment to triple to at least 300 billion baht in…
BANGKOK, 20th July 2019 (NNT) – Four challenging issues have been raised by the private sector with the new government through Deputy Prime Minister Somkid Jatusripitak, who has accepted the proposals and may set up an economics’ cabinet.
During a meeting with the deputy premier in charge of economic affairs, Federation of Thai Industries President Suphan Mongkolsuthi proposed guidelines for the handling of economic problems, involving the consumers’ purchasing power, the lower prices of farm goods, declines in the export industry and the flow-on effects of the international trade war.
The 400-baht daily minimum wage issue
The proposed measures include the setting up of a fund for innovation, the continuation of joint public-private committee meetings, the ease of doing business and waiving of unnecessary laws and the setting up of an economics cabinet.
The 400-baht daily minimum wage issue wasn’t raised during the meeting, but the Federation of Thai Industries president said he would consult with the Labor Minister about it in due course.
Mr Somkid confirmed that he will consult with the premier about the proposed setting up of the economics cabinet.
At an initial stage, the premier may chair the proposed economics cabinet which wouldn’t convene on a weekly basis. The economics cabinet may only convene when a special issue arises.
The economics cabinet would give assurances to the private sector and help steer the national economy. Meanwhile, the 400-baht minimum wage will be considered by the Tripartite Wage Committee.
The deputy premier said an increase in the minimum wage will depend on various factors, such as the development of the skills of workers. He gave an assurance that the issue will be handled positively.
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