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Dej-Udom & Associates Business and Legal Update

ASEAN Economic Community
AEC Labor Growth
In a recent report, the International Labor Organization (ILO) states that the ASEAN Economic Community (AEC) integration will allow low and middle-income ASEAN member states to move up the productivity and skills ladder. The report estimates that future demand for high-skilled employment for Cambodia, Indonesia, Laos, Philippines, and Thailand could increase by 14 million jobs by 2025 and future demand for medium-skilled employment could increase by 38 million jobs over the same time period. The ILO maintains that the greatest impact of the AEC will be on medium-skilled jobs, especially in Thailand and Vietnam. More…