FDI and Labor Ministry helping SMEs cope with wage rise

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BANGKOK, 22 February 2013 The Federation of Thai Industries (FDI) and the Department of Skill Development, Labor Ministry, are providing consultations to SME owners on ways to survive the new minimum wage of 300 baht, at an exhibition being held at the Queen Sirikit National Convention Center. 

The service is aimed at helping SMEs stand on their feet in the current economic climate and ready for the entry into the ASEAN Economic Community taking shape in the next few years.

The exhibition provides SMEs owners with access to financial support and advice on how to improve their competitiveness and labor efficiency. Ideas and opinions will also be exchanged in a discussion at the event to find ways to increase the potential of Thai SMEs.

FDI Chairman Payungsak Chartsutipol stressed at the opening of the exhibition the need for SME entrepreneurs to adapt themselves to the changing circumstances like the higher minimum wage, the fluctuation of Thai Baht, and the impacts of the European and US economies.

The exhibition provides a stage for related government units to publicize various relief measures for affected SMEs such as tax reductions for entrepreneurs who provide training for their workers. SMEs can also take a loan from the Skill Development Fund at the interest rate of 0.1%. A mobile labor clinic will also be sent to vocational institutions and SME businesses as a way to enhance labor skills.