PM Srettha aims to lift Thailand to upper-income status in four-year soar

[nobodysfriend]

4 hours ago, webfact said:

elevate Thailand to an upper-income nation within the next four years.

 

4 hours ago, webfact said:

a minimum daily wage of 600 baht by 2027.

Isn't that an oxymoron , a contradiction in itself ?

[malibukid]

1 hour ago, peter48 said:

Great to see this party back in power again. Its like early Thaiksin or Tony Blair or Justin Trudeau. You start governing for all people not the rich elites, you reach out to the poor Northern areas too, to the low incomed and forgotten, the struggling groups barely making it through. You give people hope, you open up your country, you improve education and investment and encourage foreign investment too.  As countries improve too you introduce a dynamism; you bring down drug taking, crime and unemployment. The cynics will say blah,blah but no younger fresh new ideas will help Thailand to what it was like before the coups. This was what the Thais voted for. 

can we please just have decent infrastructure in Chiang Mai, it dying.

[koolkarl]

Not a hope if Thailand proceeds with its proposed taxes and  income and asset info swap with members of OECD. 

[TheAppletons]

12 hours ago, off road pat said:

Hm,...Nativity is a wonderful thing.

And a Merry Christmas to you as well.  

[malibukid]

this will never happen for the simple reason the the elites want cheap labor.

[Celsius]

2 hours ago, adrin said:

according to the comments, the guys here are already desperate, as this would mean that any esan girl would make more than them and they cannot bang a girl for pocket money anymore

 

You make a fair point, but also miss an important one.

 

Isaan girls could be making 100,000 baht a month working 7/11, but the Thai currency will most likely be worth the same as 1 Korean won.

 

Farang sex tourist wins even more.

 

 

[Sophon]

2 hours ago, Modern Coding said:

Business owner here.

So, fresh graduates are to be paid a monthly target salary of 25k.

People with no degree would be at a daily wage of 0.04k, which means a monthly wage of 12k on a 30-day monthly basis as per law.

Well, I would be better off waiting for kids to finish their school, then give them a proper training, instead of hiring fresh graduates, to whom proper training is also needed!

0.04k is 40 Baht.

[Purdey]

Create high income, push price inflation up.

Lose cheap Chinese tourists.

Lose manufacturing as skills don't rise to meet expectation.

Poor education means depending on unskilled work in tourism. (The "hey you mister"  syndrome)

A need for cheaper labor grows. Cheaper unskilled workers enter from the region and more Thais become unemployed.

Without fundamental changes to education, paying higher wages will create more problems. 

[aqua4]

31 minutes ago, koolkarl said:

Not a hope if Thailand proceeds with its proposed taxes and  income and asset info swap with members of OECD. 

True, its just another disaster in the making. I however get this strange vibe when he says "The initial proposal includes a raise of the minimum wage to 400 baht per day and monthly salaries for university graduates to 25,000 baht." You cannot legislate people into wealth nor can you legislate Thailand into a upper middle income state.

 

Sorry but this type of 'commie' thinking I have seen in Africa with disastrous consequences. People will simply disinvest much like China is seeing people leave because of higher salary bills. The idea that "This is part of a broader strategy to generate higher tax revenues and encourage further investment." to me spells disaster. People do not invest where the labour is expensive and the work can be done elsewhere. 

[Middle Aged Grouch]

The thing is that if you raise salaries, the business owner will immediately double raise the prices of his services.

 

1. Foreigners first of all do not come to Thailand to pay similar prices as back home in the west.

 

2. Even if the business increases his prices to the patsy farang who will pay, chances are small that his staff will get the raise .

 

Salary increase can sound nice on paper but it can end up in backfiring as tourists and wealthy retirees will chose another country so spend and settle.

 

 

[Trevor Collins]

So, he's gonna get rid of all the crooked politicians and corrupt cops who drag Thailand down to their level? Good luck with that!

[Chongalulu]

2 hours ago, John Drake said:

He's going to turn this place into Argentina.

World cup winners? Nah! ????

[Chongalulu]

So just a continuation of politicians unable to differentiate between a mission statement and a vague concoction of ill thought through cosmetic plans.

A far higher level of education and skills has to precede a higher income economy which Thailand does not  and has no plans to address. Even then it would take a generation to achieve. It's only because of the poor level of education as evidenced by the PISA educational tables that he gets away with such patent nonsense 

[Modern Coding]

34 minutes ago, Sophon said:

0.04k is 40 Baht.

Aw yes, you're right.

[Ben Zioner]

2 hours ago, ThaiFelix said:

There is a well trained work force, educated in Thai colleges and universities, the best degrees money can buy bwahahaha!

Absolutely.

 

[Guderian]

The idiot should be targeting the Gini coefficient, not some ridiculous fantasy of becoming a European country in short order.

[phetphet]

7-11 must be dreading their future wage bill if this happens.

[Surasak]

And when inflation increases, as is inevitable, the people will be chasing even more daily rate increases. and round and round we go, add infinitum. Some really clever people who can't see the bleedin obvious.

[Eric Loh]

PM Sretha is the right man for the job. The world economy is faltering and global growth is expected to decline. Thailand is vulnerable to the slowing economic global events and a strong leader with a vision for the future will inspire others to make the vision a reality. He is setting clear directions and creating a sense of purpose to motivate those around him to take action in order to achieve the desired outcome. He is likely to have the full 4 years term to implement his policies and that is a luxury. The last government that had 4 years was a golden economic period with growth over 6%, improved income status, low employment and lower income inequality. Thailand must move up the value change and move out of being a low wage production country. Businesses that still rely on low wages will have to look hard to improve their productivity or move to lower wage countries. His bottom-up economics is the right approach for Thailand and will have significant benefits on income and equality. 

 

[dinsdale]

I'm sure he's correct for those already in the 'upper income'. They will move to upper upper income.

 

 

 

 

 

[connda]

PM Srettha aims to lift Thailand to upper-income status in four-year soar.

That needs a rewrite:

PM Srettha aims to lift Thailand to those with upper-income status to mega-wealthy in four-years as soaring inflation decimates average Thais.

 

Much better!

[adrin]

18 minutes ago, Ben Zioner said:

Absolutely.

 

you dont even get that these kind of works are done by laos, myanmar, cambodians etc. no thai is doing such jobs since many years anymore.

[adrin]

58 minutes ago, Middle Aged Grouch said:

The thing is that if you raise salaries, the business owner will immediately double raise the prices of his services.

 

1. Foreigners first of all do not come to Thailand to pay similar prices as back home in the west.

 

2. Even if the business increases his prices to the patsy farang who will pay, chances are small that his staff will get the raise .

 

Salary increase can sound nice on paper but it can end up in backfiring as tourists and wealthy retirees will chose another country so spend and settle.

 

 

"wealthy retirees" should still able to pay it. silly boomer farang tourists will still go to pattaya, as they wouldnt even get it. even if no one of these guys would come anymore, it wouldnt matter. thailand is already a step further

[Gknrd]

Nice smile, Question is can a dictatorship government run the country successfully . I hope so.. Time will tell.

[John Drake]

Looks like a game show host. This ought to inspire investor confidence.  

 

[youngster30uk]

3 hours ago, peter48 said:

Great to see this party back in power again. Its like early Thaiksin or Tony Blair or Justin Trudeau. You start governing for all people not the rich elites, you reach out to the poor Northern areas too, to the low incomed and forgotten, the struggling groups barely making it through. You give people hope, you open up your country, you improve education and investment and encourage foreign investment too.  As countries improve too you introduce a dynamism; you bring down drug taking, crime and unemployment. The cynics will say blah,blah but no younger fresh new ideas will help Thailand to what it was like before the coups. This was what the Thais voted for. 

Before the Coups? thats going back nearly a century! There has been a coup on average every 8 years for the last century. 

[Metapod]

we need Prayut back.

[PingRoundTheWorld]

What an idiot. With every day that passes he's proving more and more just how out of touch with reality he actually is. Just another billionaire populist playing Robin Hood steal from "the rich" (middle class) and give to "the poor" AKA vote buying.

Upper-income country in 4 years is a total joke: Higher income means higher prices, and higher prices means less tourism. Who's going to fund those higher wages and taxes? it's gonna grow on trees? Tourists aren't going to come if Thailand prices itself out of the competition - it's already the most expensive destination in the region. It's tolerable now, but at higher prices many will just prefer to holiday in cheaper destinations. And let's not even dive into his delusional plan of taxing overseas income.

 

The end result of his economic plans will be extreme unemployment, stagflation, and a significant decrease in quality of life for everyone. Luckily- none of this is going to happen as he's day-dreaming. Knee-jerk reversal in 3..2..1..

 

 

 

 

[retarius]

He's lucky he's in Thailand, he can do absolutely nothing like Prayut did for 8 years while he was "returning happiness to the people". I suspect Mr Income Soaring Srettha is referring to his own income, not the income of workers.

[connda]

34 minutes ago, John Drake said:

Looks like a game show host. This ought to inspire investor confidence.  

 

Is he a real estate salesman?