Private sector warns of brain drain during AEC

Published on March 27, 2012 by TFP   ·   No Comments



BANGKOK, 27 March 2012 – The Thai private sector fears the ASEAN Economic Community (AEC) will cause brain drain in the country and suggests Thai businesses to create partnership with their ASEAN counterparts instead of competing with them.

During the “Strategic Financial Journey for AEC” seminar on Tuesday, PTT CFO and President of the Thailand Management Association Thewin Wongwanit said the AEC, which would enter into force in 2015, would create more exchanges of goods, services, labor and investment, which could be viewed as an opportunity and a threat for Thailand at the same time. He remarked that if Thai businesses did not adjust themselves, they would face problems rather than having a chance to reap benefits from the AEC.

The CFO also warned Thai businesses of the brain drain problem, in which skilled workers emigrated to other ASEAN countries with higher wage or better welfare. He said this would damage the productivity of the industrial sector and suggested Thai businesses to try to keep their employees.

As for SMEs, Mr. Thewin said they should partner with foreign counterparts in ASEAN, especially those in the same industry or industries in the same supply chain, to avoid unhealthy competition.

(NNT : Narumon Ngamsaithong)

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