Kasikorn Research Centre KRC advises in a new report that the Thai government should further develop the skills of the country’s workers and their productivity so that Thai products can compete more effectively in the global market.
The KRC recommendations were made after the recent National Wage Committee decision to increase the daily minimum wage from Jan 1. It said the increase is slightly higher than the inflation rate and is considered “positive news” to workers throughout the country.
The government should introduce innovative knowledge and technology in order to strengthen labourers’ skills from medium to long-term by offering improved incentives so that they would not migrate overseas,
However, Thai industry will encounter a challenging problem next year due to the rise of operational costs due to the increase of the minimum daily wage and a decline in profit margin because of a fiercer competition in the market, both local and overseas.
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