BANGKOK, Thailand – Labor Minister Phiphat Ratchakitprakarn revealed that the much-anticipated announcement of a 400-baht daily minimum wage increase cannot yet be made, citing ongoing discussions with employer groups. However, he remains hopeful that good news will come within this month, in time to honor National Labor Day, May 1.
He assured workers that the ministry is working urgently to push the wage increase forward and asked for confidence in the government’s commitment to deliver results soon.
As a National Labour Day gift, the Ministry of Labour is also rolling out a program to improve access to low-interest “career development” loans for both employers and insured workers nationwide. This initiative, in collaboration with partner banks, aims to reduce reliance on informal debt and expand financial access.
The program targets two main groups:
Insured workers seeking to start or expand side businesses. The “Career Capital” loan scheme offers up to 100 billion baht to support new income opportunities and help workers shift from mere protection to empowerment through self-employment and family income stability.
Employers in need of liquidity to maintain operations and preserve jobs. The third phase of the Employment Promotion Loan Program offers 20 billion baht in low-interest loans, starting at just 2.35% per annum, fixed for three years—providing much-needed relief to keep employment stable. (TNA)
