The industrial sector risks losing competitiveness because of the labour shortage, a high minimum wage, infrastructure project delays, poor-quality education and energy imports, says a government think tank.
The National Economic and Social Development Board (NESDB) forecast Thailand will be classified as an ageing society within eight years, putting pressure on the industrial sector in terms of labour supply. The proportion of citizens aged 60 and above will grow, while the number of those aged 14 and younger and working people aged 15-59 has been declining amid growing demand for industrial labour.
Meanwhile, labour costs are relatively high in Thailand compared with other Asean members, said NESDB secretary-general Arkhom Termpittayapaisith.
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