Thailand plans to give an estimated 45.4 billion baht ($1.34 billion) in stimulus to help smaller businesses retain jobs, its planning agency said on Thursday, as the tourism-dependent country deals with a prolonged coronavirus outbreak.
Following a three-month period from November, the government will pay firms 9,000 baht ($266) for each worker over ten years, aiming to maintain 5.04 million jobs, according to the agency, which was chaired by the prime minister.
According to the planning agency, the funds will be used to help 480,000 businesses employ up to 200 Thai workers, which will need at least 95 percent of employees.
It also stated that the government intends to draw 1 million foreign tourists during the final quarter of 2021 and the first quarter in next year, with at least 60 billion baht spending.
Thailand will soon reopen to more vaccinated arrivals, despite a long-standing quarantine requirement, in attempting to revive tourism, an industry that accounts for 11-12 percent of the nation's GDP and employs about 20% of its workforce. read more
($1 = 33.83 baht)