ID :
193874
Sat, 07/09/2011 - 13:11
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http://m.oananews.org//node/193874
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Private sector assessing new Thai government policies
BANGKOK, July 9 (TNA) - The Thai private sector is assessing the new government's key economic policies, including a minimum wage hike and a new foreign exchange measure.
Chartsiri Sophonpanich, Chairman of the Thai Bankers’ Association and President of Bangkok Bank, admitted that the newly-elected Puea Thai government policy on raising minimum wages to 300 baht per day equally in all areas across the country would increase business operators’ costs.
Chartsiri said, however, that he believed the local business operators would eventually adjust to the change, and the daily minimum wage hike would bring about long-term benefits to the national economy.
Paiboon Polsuwanna, Chair of the Thai National Shippers’ Council, cautioned that the policies of the majority-elected Puea Thai Party to promote the appreciation of the Thai baht and to raise daily minimum wages to 300 baht would affect local exporters, particularly those relying on domestic raw materials namely food, fishery, farm, textile and garments firms.
Paiboon noted that the policies would, on the other hand, benefit most foreign investors in Thailand who import raw materials and finished parts and use a handful of Thai labour. (TNA)
Chartsiri Sophonpanich, Chairman of the Thai Bankers’ Association and President of Bangkok Bank, admitted that the newly-elected Puea Thai government policy on raising minimum wages to 300 baht per day equally in all areas across the country would increase business operators’ costs.
Chartsiri said, however, that he believed the local business operators would eventually adjust to the change, and the daily minimum wage hike would bring about long-term benefits to the national economy.
Paiboon Polsuwanna, Chair of the Thai National Shippers’ Council, cautioned that the policies of the majority-elected Puea Thai Party to promote the appreciation of the Thai baht and to raise daily minimum wages to 300 baht would affect local exporters, particularly those relying on domestic raw materials namely food, fishery, farm, textile and garments firms.
Paiboon noted that the policies would, on the other hand, benefit most foreign investors in Thailand who import raw materials and finished parts and use a handful of Thai labour. (TNA)
