Hanoi (VNA) – Thailand is set to increase the minimum wage in next month as planned, and the government is also considering another wage hike in March 2024, Prime Minister Srettha Thavisin affirmed on December 26.
A wage committee, comprised of government, employers and employee representatives, had previously agreed to increase the daily minimum wage by 2.37%, effective in January, but the PM deemed the hike too low.
Therefore, the ruling Pheu Thai party campaigned on raising the daily minimum wage to 400 THB (11.56 USD).
Labour Minister Phipat Ratchakitprakarn said another investigation covering local wage rates and professional groups will conclude in March to determine areas and groups that can increase wages.
The current minimum wage is 328-354 THB varying between different parts of the country with the committee agreeing to raise the pay threshold range to 330-370 THB./.
Thailand attracts nearly 100 billion THB in foreign investment in 11 months
A total of 612 foreign enterprises with a total investment of over 98.28 billion THB (2 billion USD) were granted licenses to do business in Thailand in 11 months of 2023, according to Oramon Sapthaweetham, Director-General of the Department of Business Development under Thailand’s Ministry of Commerce.