BANGKOK : Hefty wage increases promised by the winners of Thailand's election would hurt businesses, jobs, and competitiveness, an industry group said on Tuesday, after industrial sentiment dropped last month.
Move Forward has promised to raise the daily minimum wage to 450 baht , with annual revisions, from an average 337 baht, while Pheu Thai has pledged to increase it to 600 baht by 2027. "It's our main concern. Every time wages are raised, Thailand's competitiveness falls and FDI drops," FTI vice chairman Montri Mahaplerkpong told a press conference, referring to foreign direct investment.