Despite its impressive leap up the rankings in the World Bank’s latest “ease of doing business” assessment of nations, Thailand cannot rest on its laurels. Based on the World Bank’s 2018 Doing Business Report, which compared more than 190 countries and territories, Thailand is now the 26th-easiest place on earth for foreign firms to conduct business, jumping an unprecedented 20 ranking places from 46 the previous year. The rankings cover 10 aspects to doing business: starting a new business, applying for electricity use, protection of minority shareholders, tax payment, enforcement of contracts, applying for building permits, registration of intellectual and other property, applying for credit, international trading, and bankruptcy procedures. Given the huge improvement in the World Bank report, Thailand aims to achieve a better ranking in the next World Economic Forum (WEF) Global Competitiveness Report. In the latest WEF ranking, Thailand is 34th, up slightly from the previous year’s 32nd.

Source: The Nation Bangkok November 02, 2017 16:52 UTC