FTI firms fear mass closures | Bangkok Post: business

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FTI firms fear mass closures

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A significant number of Federation of Thai Industries (FTI) members fear they may be forced to shut down their businesses because government measures are not helping them to cope with the higher minimum wage. 

About a quarter of 400 firms surveyed by the FTI say they may have to close as the wage increase to 300 baht a day nationwide has pushed up their manufacturing costs by 10-12% on average.

"These companies can't afford to relocate to lower-cost countries," said FTI secretary-general Tanit Sorat.

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