Bangkok: Mr. Phiphat Ratchakitprakarn, Minister of Labor, has announced that he is optimistic about the prospect of raising the minimum wage to 400 baht this month, although discussions with employer groups are still ongoing.

According to Thai News Agency, the minister acknowledged the current challenges in negotiations but expressed his commitment to expedite the matter. He assured workers that there should be positive developments by the end of the month, aligning with the celebrations of National Labor Day.

In an effort to further support both employers and employees, the Ministry of Labor is introducing the ‘Career Capital’ project. This initiative aims to provide low-interest funding opportunities, in collaboration with partner banks, to improve access to capital for both employers and insured employees. The project has a total budget of 100 billion baht, targeting employees who wish to develop new careers or start businesses, thereby creating stable income opportunities for families.

Additionally, the ministry is offering a financial lifeline to employers through the 20 billion baht Phase 3 Employment Promotion Loan Project. This initiative is designed to enhance business liquidity and maintain employment levels, featuring very low interest rates starting at 2.35% per year, fixed for three years. These measures are intended to reduce reliance on informal debt and provide a sustainable financial path for businesses and workers alike.