Electric vehicle manufacturer Tesla entered the Thai market today, offering two models at starting prices of less than 2 million baht each, according to an announcement on its website.
The EV pioneer had hinted in November that it would enter the Thai market this month.
On Wednesday, Tesla began accepting reservations for its Model 3 and Model Y vehicles, saying deliveries will begin gradually in February next year. Reservations can only be made through its website.
It released the following price list (excluding autopilot and full self-driving options) for the two models:
Model 3
Single motor (rear-wheel drive): 1.759 million baht
Long range (dual motor, all-wheel drive): 1.999 million baht
Performance (dual motor, all-wheel drive): 2.309 million baht
Model Y
Single motor (rear-wheel drive): 1.959 million baht
Long range (dual motor, all-wheel drive): 2.259 million baht
Performance (dual motor, all-wheel drive): 2.509 million baht
Purchases include a four-year (or 80,000km) warranty for the vehicle and an eight-year warranty for the battery (160,000km for rear-wheel drive and 192,000km for all-wheel drive).
Tesla also announced it will open its flagship store and its first car-delivery and service centre in the first quarter of next year. It will also open 10 charging stations in Thailand next year, it said.
JBP joined forces with alliances, heading toward sustainable business development under “One World One Future Together”
WEDNESDAY, DECEMBER 07, 2022
Climate Change is causing severe environmental impacts and turbulence across the globe. Organizations and the general public are now focusing their attention on environmentally-friendly and sustainable business practices.
Mr. Sarawut Rachanakul, Chief Executive Officer of JBP International Paint and President of the Thai Paint Manufacturers Association, is one of the industry leaders to spearhead the company’s strong commitment in promoting sustainable business practices through words and actions rather than as a trend of doing business.
Realizing the impacts on health and the environment from the beginning of COVID-19 pandemic and PM 2.5 air pollution in Thailand two years ago, JBP International Paint is committed to solving the problems by introducing new high-quality, environmentally and health-friendly paint products and plastic paint containers for consumers with support from Srithai Superware, Thailand’s leading manufacturer to ensure corporate social responsibility of the product and for the Thai people.
On November 11, JBP International Paint Company Limited, Thailand’s leading manufacturer and distributor of the paint industry represented by Mr. Chongkol Rachanakul, Chairman of Executive Committee, signed a memorandum of understanding (MOU) with key business alliances : Srithai Superware Public Company Limited, CRC Thai Watsadu Company Limited, and UAC Global Public Company Limited to collaborate on the “One World: One Future Together” project with aims to remediate global turbulence, reduce energy usage and greenhouse gases emission and announce readiness to ensure environmentally friendly business practices and foster Thailand’s economy toward sustainable growth.
Mr. Chongkol Rachanakul, Chairman of Executive Committee of JBP International Paint, said, “Sustainable development and sufficient economy philosophy are the core principles that our company upholds and promotes to everyone in the organization. We are concerned about the current environment issues so we want to promote the concept of the green supply chain that not only reduces environmental problems but also enhances our sustainable business practices to another level.”
Mr. Sarawut Rachanakul, Chief Executive Officer of JBP International Paint, said, “We are aiming to reduce greenhouse gas emissions significantly over the next decade. We are setting goals toward the realization of carbon neutrality by switching or transitioning to lower carbon alternatives and developing innovative environmentally friendly technology. In addition, this will continue to play a big part in shaping product development in our industry which is good for consumers and the environment that will be the way to more sustainable production models in the future.”
Mr. Chaiwat Kulphattaravanich, Executive Director of Srithai Superware, said, “Our company’s core business principles are Environment Social and Governance (ESG). We are committed to delivering environmentally friendly products and services that help to reduce greenhouse gases emission for the better quality of life of the people and the planet.”
Mr. Suthisarn Chirathivat, Chief Executive Officer of CRC Thai Watsadu, said, “At CRC Thai Watsadu, we are ready to help deliver positive values to the society and environment by reducing energy consumption. This will set an example for the retail industry transformation to become a green retailer for sustainable business practices.”
Mr. Kitti Jivacate, Chairman of Executive Committee of UAC Global, said, “We realized the impacts of environmental and energy crises. Therefore, we are committed to building a stable and sustainable business while maintaining our responsibility for the society and environment. We are ready to join hands with all sectors in maximizing benefits to the society and environment.”
The signing of this MoU signified future collaboration among 4 companies whereby each business organization will bring their own sustainable business practices to exchange with each other in order to develop, expand, and introduce new innovations for products and services to promote sustainable growth.The partnership will also include the development of sustainable products which can be truly identified as a “Green Supply Chain” in the future.
The MOU signing ceremony was also witnessed by honorable guests: Mr. Sanan Angubolkul, President of the Thai Chamber of Commerce who gave opening remarks together with Mr. Yuttana Jiamtragan, Chairman of the Circular Economy and Environmental Committee Thai Chamber of Commerce who also gave congratulatory speech and endorsement for “One World : One Future Together” project which aims to foster sustatinable development at international level as well as to achieve objectives of social, economic and environment development for a better planet. Other notable guests presided over at the event include Mr. Korn Narongdej, Ms. Sikanya Saktidej Bhanubandh, and Mr. Akarat Wannarat.
DTAC launches online solutions platform to assist SMEs with digitalisation
TUESDAY, DECEMBER 06, 2022
Nongluck Ajanapanya
Thailand’s internet service provider, Total Access Communication (DTAC), in partnership with Telenor and Google Cloud, has created B-LAB, its first online solutions platform, aimed at helping small and medium-sized enterprises (SMEs) to successfully navigate the digital transformation process.
Siripong Nokthanok, strategic vice president of SMEs sales division, told a group of journalists on Tuesday that B-LAB is a one-stop solutions platform for assisting SMEs in connecting, learning, and expanding their businesses.
“It is the end result of our research into our SME clients’ problems. By giving them access to a knowledge hub, customised software as a service, and mobile connectivity solutions, B-LAB is intended to empower them to fully digitalise their businesses and achieve profitable growth,” he noted.
Siripong Nokthanok
According to Lars Kristian Straatviet, vice president of B2B digital sales, one of the biggest barriers to businesses going digital is a lack of relevant competencies and skills.
DTAC has built a rich community ecosystem on B-LAB in collaboration with Telenor and Google Cloud. The platform is simple to use and meets individual needs with a 24/7 Thai support team, he said.
Lars Kristian Straatviet
“That means they [SMEs] can consult our service team at any time, from anywhere. We do not, however, want to be an open marketplace like Amazon Web Service. We simply want to focus on SMEs in order to provide them with unique added value,” Lars said.
He added that B-LAB’s priority now is to be a one-stop SMEs and e-commerce platform with the best software solutions, and to be learning partners with their SMEs in order to help them sustain their growth.
B-LAB can be used by sole proprietorships, such as online retailers, freelancers, content creators, lawyers, accountants, or consultants, as well as businesses that work in teams, Lars said.
The package price starts at 92.50 baht per month per user and there is also a 50% discount available for new business owners, he said. For those who are hesitant to subscribe, DTAC is offering a free 30-day trial.
Siripong believes that with over 3 million SMEs in Thailand, B-LAB can meet demand and see significant growth. He added that because B-LAB is the first of its kind in the region, Thailand will serve as a great model for the rest of the region and the world.
Sizzler alters strategy to cater to customers’ hunger for premium experience
TUESDAY, DECEMBER 06, 2022
Nongluck Ajanapanya
Sizzler, a western-style steak, seafood, and salad restaurant franchise, has adjusted its marketing strategy by creating an impressive dine-in experience with a premium menu to give consumers a special feeling.
Kreetakorn Siriatha, chief of financial and strategy officer, The Minor Food Group Pcl, Sizzler’s parent company, told a press conference on Tuesday that specialty is a food trend for 2023.
There is a demand for premium foods that make consumers feel special, he explained. For example, some people now prefer to drink specialty coffee rather than plain coffee.
The new strategic plan is being implemented as the dine-in restaurant industry continues to recover from the post-Covid era, where competition is fierce. Many players are working hard to win over consumers’ hearts in order to win over their loyalty, while newcomers are entering the market with new and amazing concepts.
“As a result, the industry has become extremely diverse. Though it is beneficial for customers to have more options, we must transform ourselves as quickly as their demand changes in order to stay on top of our customers’ minds,” Kreetakorn elaborated.
He pointed out that Covid has altered consumer behaviour. Aside from being concerned about healthy food and its safety, they want something premium and unique that will add value to their experience.
That is why, in addition to introducing new recipes with imported ingredients for a limited time in each season, Sizzler plans to open a dozen new branches in Bangkok’s suburbs and large provinces while renovating stores with more space and green colour tone under the Healthy Food Happy Mood concept.
Kreetakorn Siriatha (Center)
The concept focuses on medium-sized stores including innovation and creativity in store layout, new recipes, and a premium salad bar to attract more customers with high purchasing power in each location, he said.
Meanwhile, the loyalty programme e-member system at Sizzler has been upgraded, further enhancing member benefits. With these unique offers, which go beyond discounts, the company hopes to more than double its current membership base of 200,000.
Kreetakorn stated that competition in the restaurant industry is no longer primarily about discounts and promotions. It is how to always adjust its business to meet customers on time or ahead of schedule.
In response to the growing market, he said that Sizzler will have 61 stores nationwide by the end of 2022. The majority of Sizzler’s business is still dine-in, but the company’s delivery and takeaway services have grown significantly.
Consumer behaviour and the stimulation of consumer purchasing power through the introduction of various promotions are the growth factors.
The “Sizzler to Go” model, which focuses on serving food and drink recipes that suit consumers’ fast-paced lifestyle and require convenience in settings like train stations and hospitals, supports the growth. There are currently four branches, which may also help to increase the percentage of Sizzler’s overall sales.
Indonesia updated its Criminal Code (KUHP) on Tuesday, when the House of Representatives passed a newly revised version that has ushered the country into a new era in which illiberalism and religious conservatism prevail.
For decades, Indonesia has maintained its status as a country that is “neither religious nor secular” — a philosophical compromise, or conundrum, that reflects the longstanding ideological tensions between conservative and liberal forces in the country.
A pioneering partnership between a non-governmental organisation and an oil palm plantation in Malaysia was selected as one of the 15 finalists for The Earthshot Prize 2022, the world’s most prestigious environmental prize led by Prince William and the Royal Foundation.
Authorities in several Chinese regions eased COVID-19 restrictions to varying degrees on Tuesday, slowly and steadily adopting a new approach to deal with the virus and making life less regimented for the people.
U.Khurelsukh, the President of Mongolia posted on his official website that it is necessary to openly report to the public about the open discussion on the coal issue.
IN opposition, the PTI chairman may undoubtedly be one of the most popular leaders in Pakistan’s history, but despite the groundswell of public support for his party, it appears Imran Khan is unable to use the situation to his political advantage and has no clear path for his next move.
These days, Korean pop culture, from K-pop, to K-film to K-food, enjoys fame and popularity all over the world. The Korean people are proud of the phenomenon and greatly elated when foreign columnists remark that the popularity of Korean pop culture seems to have replaced that of American and British pop culture, which enchanted the world in the past.
The recent agreement by all countries to establish a new fund for loss and damage from human-induced climate change at COP27 was a simple recognition of an unfortunate reality that has existed for a long time. The reality is that the impacts that are now scientifically attributable to global temperature rise are now happening every day around the world, and most countries, rich or poor, are not at all prepared to address those impacts.
As though our current national debt was not troubling enough, the bright boys around President Marcos Jr. are planning to set up a state investment fund that seeks to participate in the highly diversified global investment game. Dubbed the “Maharlika Investments Corp.,” the proposed entity is to be headed by Mr Marcos as chair of the board.
Samsung Electronics said Tuesday that the company will collaborate with local internet giant Naver to develop next-generation semiconductor solutions for advanced artificial intelligence systems.
Vietnamese automaker VinFast, a member of private conglomerate Vingroup, on December 5 officially opened its first two stores in Cologne of Germany, and Paris of France.
Rolls-Royce has been busy building this nuclear micro-reactor. It’s a whole new classification of reactor and one the company says could eventually provide power for Nasa’s planned base on the moon.
“We are in a new space race, there’s a lot of commercial opportunities but also agencies having aspirations to go to the moon, stay there and beyond,” Matthew Marriott, Rolls-Royce engineer said.
‘’So what we’re looking at here is a scale model of our micro-reactor core system.’
Perhaps better known for its engines, British engineering firm, Rolls-Royce has spent more than 60 years quietly building the power plants for the UK’s fleet of nuclear submarines…
The experience it hopes will help it compete in the new space race, according to engineer Matthew Marriott.
“There’s a lot of commercial opportunities but also agencies having aspirations to go to the moon, stay there and beyond. And, really in order for everyone to do that they need power and reliable power. There are power options in space, solar electricity being a good opportunity. But there are instances where solar isn’t a viable option. It can’t deliver you the power that you need for space. So this product, that is sat here behind me, will enable all of these companies to realise their ambitions in space.”
NASA plans to establish a base on the moon as a stepping stone for eventual human expeditions to Mars.
Astronauts would go there to learn the skills needed for deep space missions.
Sustaining human life and habitat on the moon requires a serious amount of power…
which is where products like micro-reactors come into play.
‘’Two years ago, if you’d said to me, we’ll be looking at designing reactors to go on the moon, I’d have said that you were absolutely barking and it was a crazy idea. ‘’
Abi Clayton is Director for Future Programs at Rolls-Royce.
“If you think about Mars, it’s a really, really long way away. So it can take up to 18 months effectively to travel to Mars using conventional types of fuels. If we use the power of nuclear to do that, you can probably cut that to around a three-month period to travel to Mars so it actually makes that planet more accessible for us to actually go and explore, make sure that you can do experiments there, but again also work out, can humans get to Mars? And that’s certainly the plan by 2040, as a target out there, to get humans on Mars.”
Micro-reactors designed for space will also have plenty of uses on Earth too, says Gary Jones, head of manufacturing innovation.
“It can be used for disaster relief. So you can actually transport one of these systems within a short timeframe, hours rather than weeks to re-establish a grid, and then you could have power from a box that would really help disaster relief. You could also replace diesel-electric generators to help decarbonize a multitude of applications on Earth. And you could also use it as the main power train for shipping for example.”
Rolls-Royce says they plan to have a prototype micro-reactor operating by the end of 2028.
Trump Organization found guilty of tax fraud scheme
WEDNESDAY, DECEMBER 07, 2022
Donald Trump’s real estate company was convicted on Tuesday of carrying out a 15-year-long criminal scheme to defraud tax authorities, adding to the legal woes facing the former US president as he campaigns for office again in 2024.
The Trump Organization – which operates hotels, golf courses, and other real estates around the world – faces up to $1.6 million in fines following the guilty verdicts by a jury on all charges the company faced.
Alan Futerfas, a lawyer for the Trump Organization, told reporters the company would appeal.
Futerfas said the law allowing the company to be found guilty if executives took criminal acts “on behalf of” the company was vague.
“It was central to the case,” Futerfas said.
The exact amount of the fines will be determined by the judge overseeing the trial in New York State court. The jury deliberated for a total of about 12 hours. Following the verdict, the judge set a sentencing date of Jan. 13.
The company had pleaded not guilty. Trump himself was not charged in the case.
While the fine is not expected to be material for a company of the Trump Organization’s size, the conviction could complicate its ability to do business by spooking lenders and partners.
The case centred on charges that the company paid personal expenses like free rent and car leases for top executives including former chief financial officer Allen Weisselberg without reporting the income, and paid them bonuses as if they were independent contractors.
“The smorgasbord of benefits is designed to keep its top executives happy and loyal,” prosecutor Joshua Steinglass told jurors during his closing argument on Friday.
Manhattan District Attorney Alvin Bragg, who was in the courtroom for the verdict, said afterwards: “The former president’s companies now stand convicted of crimes. That is consequential.”
“This was a case about lying and cheating. False documents. To the end of evading taxes,” Bragg said.
Republican Trump, who on Nov. 15 announced his third campaign for the presidency, had called the probe a politically motivated “witch hunt.” Both Bragg and his predecessor who brought the charges, Cyrus Vance, are Democrats.
SEPARATE LAWSUIT
The Trump Organization separately faces a fraud lawsuit brought by New York state Attorney General Letitia James.
Trump himself is being investigated by the U.S. Department of Justice over his handling of sensitive government documents after he left office in January 2021 and attempts to overturn the November 2020 election, which he lost to Democrat Joe Biden.
Weisselberg, 75, testified as the government’s star witness as part of a plea deal with prosecutors that will allow him to spend no more than five months in jail.
The Trump Organization argued that Weisselberg carried out the scheme to benefit himself. He is on paid leave from the company and testified that he received more than $1 million in salary and bonus payments this year.
“The question here is not whether as a byproduct the company saved some money,” Susan Necheles, a defence lawyer, said in her closing argument on Thursday. “(Weisselberg’s) intent was to benefit himself, not the company.”
Trump wrote on his Truth Social platform on Nov. 19. that his family got “no economic gain from the acts done by the executive.”
Weisselberg, who pleaded guilty in August to concealing $1.76 million in income from tax authorities, testified that Trump himself signed the Christmas bonus checks and personally paid hundreds of thousands of dollars in private school tuition for Weisselberg’s grandchildren.
He also said Trump’s two sons – who took over the company’s operations in 2017 after Trump became president – gave him a raise after they knew about his tax dodge scheme.
“The whole narrative that Donald Trump was blissfully ignorant is just not real,” Steinglass said.
The Trump Organization also sought to argue that Donald Bender, an outside accountant, should have caught and blown the whistle on Weisselberg’s fraud.
The company called Bender as its main witness, but his testimony appeared to backfire when he said he trusted that the information Weisselberg gave him was accurate and that he was under no obligation to investigate further.
Thailand’s Joon Wanavit joins Forbes’ list of Asia’s top philanthropists
TUESDAY, DECEMBER 06, 2022
Forbes Asia on Tuesday unveiled its annual Heroes of Philanthropy list, which highlights altruists in the Asia-Pacific region who have shown a strong commitment to philanthropic causes like education and the environment.
Among those listed was Thailand’s Joon Wanavit, founder of Hatari Electric.
Others featured include Gautam Adani, chairman of Adani Group; Li Ka-shing, senior advisor to CK Hutchison Holdings; Melanie Perkins and Cliff Obrecht, co-founders of Canva; as well as Hiroshi Mikitani, founder and CEO of Rakuten Group.
Forbes Asia today unveiled the 16th edition of its annual Heroes of Philanthropy list, which highlights leading altruists in the Asia-Pacific region who demonstrated a strong personal commitment to philanthropic causes such as education and the environment, among others. The full list can be found at www.forbes.com/altruists and in the December issue of Forbes Asia.
The unranked list highlights philanthropists who are donating from their own fortunes and giving personal time and attention to their select causes. The list does not include corporate philanthropy except for privately held companies where the individual is a majority owner. The list is kept to a select group of 15, with nine new entrants on this year’s list. Previous honorees are considered if they have made recent significant contributions that justify a relisting.
Gautam Adani, India’s richest person, pledged 600 billion rupees (US$7.7 billion) when he turned 60 in June, making him one of India’s most generous philanthropists. The money will address healthcare, education and skill development, and will be channelled through the family’s Adani Foundation. The Adani Foundation, founded in 1996, has been spearheaded since the start by his wife Priti Adani, who is the chairperson. Each year, the foundation helps nearly 3.7 million people across India.
As climate change continues to be a major issue of concern worldwide, Hong Kong-based private equity billionaire Jean Salata and his wife Melanie gifted $200 million in June to establish the Salata Institute for Climate and Sustainability at Harvard University. The institute will coordinate research at the university, provide grants, assist course development and link students with alumni in the field. The Salatas have previously donated to other schools, including $5 million last year to help build the Salata Technology and Innovation Center at Cathedral Prep-Villa Maria in the U.S. where Jean went to high school.
Last year, Australian co-founders of Canva, Melanie Perkins and Cliff Obrecht signed the Giving Pledge, promising to donate the majority of their shares in the $26 billion (valuation) graphic design platform to support charitable initiatives. Canva has so far provided Covid-19 support in India and humanitarian response funds in Ukraine and contributed to a $10 million project in Malawi that benefits people living in extreme poverty. The company also donates access to its premium platform to over 250,000 nonprofits and has launched Canva for Education initiative, a free service designed for K-12 students and teachers worldwide.
Elsewhere, global crises such as the war in Ukraine also prompted tycoons like Japan’s Hiroshi Mikitani, the founder of e-commerce giant Rakuten, to donate to humanitarian aid. In February, Mikitani tweeted the announcement of a ¥1 billion ($7.2 million) gift to Ukraine to deal with the humanitarian fallout of Russia’s invasion earlier that month. A Rakuten online donation site started in February has raised nearly ¥1.3 billion from over 70,000 contributors to support aid efforts in Ukraine. In May, Mikitani hosted Ukrainian pop superstar Tina Karol for a charity music event in Tokyo to help raise money for the country.
Hong Kong billionaire Li Ka-shing has over the past 12 months donated over HK$1 billion ($128 million) to various initiatives in mainland China, Hong Kong and elsewhere in the world through the eponymous Li Ka Shing Foundation. This includes HK$150 million to fund research at the Chinese University of Hong Kong’s Faculty of Medicine and over HK$70 million to fight Covid-19. The foundation has sought to ease pressure on Hong Kong’s public health system by supporting private hospitals in treating non-Covid patients and funding the purchase of protective materials for elderly homes and meals for the underprivileged.
Education was a key focus for some listees this year. John Lim, cofounder of ARA Asset Management (recently acquired by ESR Cayman), tasked his elder son Andy with setting up the Lim Hoon Foundation in 2008, named after his school-teacher father. The foundation provides scholarships to so-called sandwich students – driven but disadvantaged youths in Singapore who don’t qualify for most of the country’s grades-based financial support. To date, it has granted over 1,600 bursaries totalling about S$1 million ($727,000) to students from primary school to pre-university levels. The foundation is also a longstanding donor to the Singapore Management University, to which it contributed S$3 million in April to set up the JLFO-LHF Scholarship.
Thailand prepares to welcome 10 millionth foreign tourist this year
WEDNESDAY, DECEMBER 07, 2022
Thailand expects to welcome its 10 millionth foreign tourist this year on Saturday (December 10) and will hold celebrations at seven airports and two land border checkpoints.
The “Amazing Thailand 10 Million Celebrations” campaign will mark the achievement of the 2022 target for foreign arrivals, Tourism Authority of Thailand (TAT) governor Yuthasak Supasorn said on Tuesday.
“As of December 5, Thailand had recorded 9.78 million foreign visitors this year. We believe the tally will hit 10 million on December 10,” he said. “TAT has invited partners to join in the campaign to celebrate this achievement and to show Thailand’s readiness to welcome foreign tourists in every part of the country.”
On Saturday, souvenirs will be presented to all arrivals at seven airports – Suvarnabhumi, Don Mueang, U-Tapao, Chiang Mai, Phuket, Krabi and Samui – as well as two border checkpoints at Nong Khai and Sadao (Songkhla).
There will also be a lucky draw with special prizes at Suvarnabhumi Airport, Yuthasak added.
TAT set the target for foreign visitors as part of its “Visit Thailand Year 2022-2023: Amazing New Chapters” campaign, aimed at reviving tourism after Covid-19 and restoring Thailand’s reputation as a top destination in both short-haul and long-haul markets.
However, Thai tourism revenue this year is projected at 1.3 trillion baht, less than the target of 1.5 trillion baht set at the beginning of 2022. The TAT has set next year’s target at 2.38 trillion baht.
Business bodies show the red flag to Pheu Thai’s minimum wage hike pledge
WEDNESDAY, DECEMBER 07, 2022
The Pheu Thai Party’s pledge to raise the daily minimum wage to 600 baht a day if it forms the government after the next election met with opposition from three leading business organisations on Wednesday.
Sanan Angubolkul, chairman of the Thai Chamber of Commerce (TCC), said the TCC, the Federation of Thai Industries (FTI), and the Thai Bankers’ Association (TBA) considered the current daily minimum wage as already suitable to the current economic situation of the country.
Sanan was speaking to reporters in his capacity as the chair of the joint standing committee of the TCC, FTI and TBA after the committee held a meeting on Wednesday. He was referring to a policy to hike the minimum wage announced by Pheu Thai Family Project leader and likely PM nominee Paetongtarn Shinawatra on Tuesday.
During a caucus held to kick off Pheu Thai’s election campaigns, Paetongtarn said if Pheu Thai won the general election next year, the party-led government would increase daily minimum wage to 600 baht by 2027.
Sanan said the joint committee believes the current minimum wage should not be raised as Thailand’s economy has not fully recovered from the impact of Covid-19.
Moreover, he said, the joint committee thinks that daily minimum wage rates should vary in different parts of the country, in accordance with the considerations of the provincial wage committees and tripartite national wage committee by taking into account workers’ living cost, inflation rate and the consumer price index.
Currently, the daily minimum wage rates vary from 328 to 354 baht depending on the province.
Sanan said if the next government increases the daily minimum wage to 600 baht nationwide, businesses would see their costs go up by almost 70 per cent, although the increase might be gradually implemented.
He said the businesses might not be able to cope with rising cost and many SMEs might have to shut down.
Sanan said the next government should focus on development of labour skills because when workers have high skills, their wages or salaries would automatically be higher.
He warned that any wage increase would also affect Thailand’s competitiveness.
Siripong Nokthanok
Lars Kristian Straatviet
Kreetakorn Siriatha (Center)
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