Prime Minister Srettha Thavisin declared yesterday, January 19, that Thailand must abandon its reliance on low labour costs to entice foreign investments, pushing for a raise in the country’s minimum wage.
Addressing a panel discussion titled Learning from ASEAN at the World Economic Forum in Davos, Srettha emphasised a paradigm shift in priorities.
“Low labour cost should not be the attracting point. The attracting point should be clean energy, good international schools, good public health care system, fair capital market, zero corruption, and ease of doing business.”
Pinpointing low labour costs as a stumbling block to the region’s progress, the Bangkok-born PM announced plans to collaborate with Prime Minister Hun Manet of Cambodia and Prime Minister Anwar Ibrahim to explore the possibility of elevating minimum wages across ASEAN…
