MOL Announces a Press Conference to Promote Savings Cooperatives

On March 18, 2021, at 10.00 hours, the Ministry of Labour’s Inspector-General Mr. Phairoj Chotikasathian presided over a press conference to promote savings cooperatives in establishments and state enterprises. The meeting took place in the Labour Relations Room, 1st floor, Department of Labour Protection and Welfare, Ministry of Labour. He said that the Ministry of Labour is scheduled to organize an event to promote savings cooperatives within establishments and state enterprises. The event is scheduled for Monday, March 22, at the Miracle Hotel, Lak Si, Bangkok. It aims to encourage employers from business establishments and state enterprises to develop a welfare scheme for employees to set up a savings cooperative, as it recognizes the importance of solving the issue of household debt among the workforce. Savings cooperatives are a form of welfare focused on alleviating employees’ financial hardship and improving their families’ well-being. It is also in line with the Late King’s mission to encourage people to work together as cooperatives. In addition, Labour Minister Mr. Suchart Chomklin has a policy aimed at promoting all agencies under the Ministry of Labour to implement His Majesty King Bhumibol Adulyadej’s teachings to carry on the mission of His Majesty to bring happiness to the people.

The activities in the event consist of awarding certificates to honour 26 establishments with savings cooperatives. The Labour Minister gave a special lecture on “Cooperative Thinking and Solutions to Sustainable Socio-Economic Issues.” There was also an exhibition on the performance of savings cooperatives in model establishments, promoting the quality of life of cooperative members to help participants understand and see the benefits of economic welfare in the form of setting up a savings cooperative, to inspire the establishment of a cooperative as a financial institution to encourage workers to have continuous savings. It is also a source of loan welfare at low-interest rates to create economic security for employees in the workplace and state enterprises in the future.


Source: Ministry of Labour


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