Firms relocating for cheaper labour costs
Industrialists have raised concerns that the higher minimum wage is a key factor driving many labour-intensive manufacturers to relocate to less developed neighbouring countries.
At a seminar on investment strategy in Cambodia, Laos, Myanmar and Vietnam held yesterday by the Board of Investment of Thailand (BOI) and the Federation of Thai Industries, Thaveekij Jaturajaroenkhun, chairman of TK Garment, said the higher minimum wage had a strong impact on the group’s business. It is building a new factory in Banteay Meanchey province in northwestern Cambodia…
