Phipat Ratchakitprakarn, Minister of Labour, clarified the details regarding wage adjustments, stating that the suitability for each area and province needs to be considered. Importantly, the type of labor force needs to be studied. The Ministry of Labour is trying to upskill and reskill Thai workers. The Prime Minister has proposed a wage increase to 400 baht for next year; the Ministry of Labour will reconsider this proposal based on the level of development of the labor force in question.
Owing to the influx of foreign labor into Thailand, as there are certain types of jobs that Thais are not interested in, MOUs are being worked to develop workforce skills, possibly starting from secondary education and integrating it into the vocational system to meet the needs of desired job sectors.
Currently, the Ministry of Labour is drafting an Act to promote freelance workers, such as riders. The Social Security Fund is invested in low-risk assets by 60%, such as bank deposits and government bonds, while 40% is invested in potentially risky assets like the stock market, which is not very risky.
However, due to the sluggish economy, the revenue is not high. Therefore, discussions will be held with the Social Security Fund regarding generating profit from riskier assets. The Ministry of Labour will engage with all professional sectors, elevating its status to an economic ministry involved with every organization and all types of professions, said the minister. (NNT)
