Tuesday, February 27, 2024

PM Srettha urges ASEAN to hike minimum wages

Thai PM Thavisin urged ASEAN to stop using low labor cost as incentive for foreign investments, lift minimum wages, and focus on clean energy and good public services.

Prime Minister’s Call for ASEAN Cooperation

Thailand’s Prime Minister, Srettha Thavisin, urged ASEAN countries to reevaluate their use of low labor costs as an incentive for foreign investments. He emphasized the importance of focusing on clean energy, education, healthcare, a fair market, minimal corruption, and a business-friendly environment during a panel discussion at the World Economic Forum in Davos.

Raising Minimum Wages for Regional Growth

Srettha expressed his intention to collaborate with other ASEAN leaders, including Prime Minister Hun Manet of Cambodia and Prime Minister Anwar Ibrahim, to discuss raising minimum wages as a means to attract investments. He stressed the importance of working together to establish reasonable minimum wages while utilizing alternative incentives to attract investments from major economies such as the US, Europe, and China.

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