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National minimum wage rise could harm SMEs

National minimum wage rise could harm SMEs
Written by World News

Raising the daily minimum wage to 400 baht, to lift domestic consumption, is one of flagship policies that Thai government implements to incentivise the economy. While the government vows to deliver this policy by this October, several organisations have been worried about negative impacts.

In a recent interview with Thai PBS World, the Chairwoman of Joint Foreign Chambers of Commerce in Thailand, Vibeke Lyssand Leirvag, said that the majority of chambers are not against the policy, but the minimum wage needs to be increased gradually. As SMEs in poorer provinces cannot absorb the increase, some might close their companies eventually.


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