Thailand’s Department of Employment Signs MoU with BAAC to Facilitate Financial Services for its Thai Workers Abroad

September 29, 20168:36 am399 views
Thailand’s Department of Employment Signs MoU with BAAC to Facilitate Financial Services for its Thai Workers Abroad
Arrug Phrommanee, Director-General, Thailand’s Department of Employment

Thailand’s Department of Employment, Director-General, Arrug Phrommanee entered into a Memorandum of Understanding (MoU) with the Bank for Agriculture and Agricultural Co-operatives (BAAC), in order to support and facilitate financial convenience to Thai workers working abroad.

Arrug Phrommanee, stated that the Memorandum of Understanding signed by the Department of Employment and Bank for Agriculture and Agricultural Co-operatives, was initiated with the aim of supporting Thai workers seeking employment abroad, thus ensuring that the workers are cared for, receive fair compensation and benefits, live well and have access to information beneficial to their work.

The agreement was also aimed at providing credit support as well as other relevant financial services when working abroad, in order to increase income and enhance the quality of living for agricultural households. This is a way of creating strong foundations for the Thai workforce, and in return, would benefit the nation’s economy.

As per the terms of this agreement, Thai workers will gain from credit services provided by the Bank for Agriculture and Agricultural Co-operatives (BAAC) to use in travelling expenses. Workers will also be facilitated with ease in transferring money home, as well as facilitating exchange rates and credit to be used for professional use after working abroad.

See: Increasing Unemployment in Thailand Owing to Lack of New Investments in the Country

The Ministry of Labour’s Department of Employment will have the following responsibilities:

1) Support inspection and certify lists of Thai workers permitted to work abroad requesting to use BAAC’s credit services

2) Provide a list of permitted recruitment companies and those which have been blacklisted or had licenses terminated to BAAC

3) Support BAAC in joining activities for employment of Thai workers abroad, and other activities within the department, including provincial Employment Offices which will operate under this agreement

4) Support information of Thai workers including other relevant information to BAAC, within relevant legislation and enforced regulations and

5) Support public relations on joining with BAAC. In 2016 (January – August 2016), a total of 81,701 Thai people were permitted to work abroad, comprising 8,492 travelling on their own, 8,709 organised by the Department of Employment, 6,011 workers organized by employers, 3,002 sent for training by employers, 22,074 arranged through recruitment agencies and 33,413 re-entry cases.

The workers abroad were able to generate an income back to the country, through the Bank of Thailand totaling 60.4 billion Baht. For further information in this regard, Thai workers abroad can contact all provincial Department of Employments or the 1694 hotline.

Also read: Robotics Manufacturing Takes Off in Thailand: Would this Mean Loss of Jobs?

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