Report shows that Thailand means business

[snoop1130]

Report shows that Thailand means business

By The Nation

 

 

The World Bank Group’s latest “Doing Business” report ranks Thailand in 26th place among 190 economies in the ease of doing business for small and medium enterprises around the world – up from 48th place when applying the same methodology to last year’s and this year’s data.

 

The report also recognises Thailand as one of top 10 economies that have improved most in the ease of doing business in the last year.

 

Released today, “Doing Business 2018: Reforming to Create Jobs”, finds that Thailand made impressive strides, having adopted eight reforms in the past year, a record for the country in a single year.

 

“In addition to improving the regulatory framework that was an obstacle to doing business by invoking Section 44, the government also supported the development of a comprehensive Doing Business portal to be launched in 2019 to provide easier and faster services for business owners,” said Thossaporn Srisamphan, secretary-general, Office of the Public Sector Development Commission (OPDC).

 

“Thailand has made immense progress in doing business reforms this past year, with strong government leadership at the highest levels,” said Ulrich Zachau, World Bank director for Thailand, Malaysia and Regional Partnerships.

 

“With its 26th place ranking, Thailand has risen into the top 15 per cent of countries globally in the ease of doing business – a great achievement. We look forward to continuing our strong partnership with Thailand in support of a strong business environment, and more good jobs for more people all across the country."

 

Several recent major improvements in the ease of doing business stand out. For example, Thailand abolished a requirement to obtain a company seal and eliminated the need for approval of company work regulations from the Labour Department. As a result, the time taken to start a business has been reduced to just 4.5 days, compared to 27.5 days previously.

 

Thailand also introduced an automatic risk-based system for selecting companies for a tax audit; reduced the property transfer tax rate; adopted legislation to broaden the scope of assets that can be used as collateral; and is now using geographic information systems for access to electricity.

 

Thailand is continuing systematic reforms to strengthen the business environment further, focusing on areas with room for further improvements, such as enforcing contracts, registering property, and paying taxes.

 

For example, the time required to enforce contracts is 420 days, compared with the best recorded practice of 164 days in Singapore. On registering property, the cost of transferring property is 7.3 per cent of the property value, above the regional average of 4.3 per cent. Additional simplification in paying taxes -– where Thailand ranks 67th globally and it takes 262 hours on average to prepare, file and pay taxes – will also be important.

 

This year’s “Doing Business” report includes a case study that highlights successful insolvency reform in Thailand and lessons learned for other economies.

 

Source: http://www.nationmultimedia.com/detail/Economy/30330589

-- © Copyright The Nation 2017-11-1

[wakeupplease]

Please stop pulling my plonker as all this laughter is not good for my heath Doing Business Where? The WBG is like the WHO who only last week made Mugabe a Good will ambassador only to strip him of it 1 day latter. These organizations just work of bullSh>> that countries send them and never bother to check the facts. This place is good at that.

[YetAnother]

54 minutes ago, wakeupplease said:

Please stop pulling my plonker as all this laughter is not good for my heath Doing Business Where? The WBG is like the WHO who only last week made Mugabe a Good will ambassador only to strip him of it 1 day latter. These organizations just work of bullSh>> that countries send them and never bother to check the facts. This place is good at that.

years ago,i looked hard at starting a business here after being quite successful elsewhere;

i pulled up stakes when a sage old thai told me :'thai cheat thai, you have no chance'; ==done,dead

[InMyShadow]

Oh the world bank no less.. Impressive

[coulson]

Complete fallacy. 

 

This is surely based on the amount of people and money exchanged (lost) in the exercise of new business/ property registration.

 

Easy to spend, very difficult to benefit or recover.

 

Pure BS

[surangw]

headline a good reason not to have a sip of coffee until after  the laffing dies down

[Samui Bodoh]

9 hours ago, snoop1130 said:

Report shows that Thailand means business

 

Me thinks the World Bank Group needs to get out of their office a bit more.

 

I don't even run a business here, but I know that running a business here is pure madness. The second that you run up against officialdom (and you quickly will), you are in for it.

 

Run fast and far while you can, come back when you can afford it.

 

Thailand is GREAT when you aren't trying to make money.

 

[yellowboat]

It takes time to find good productive people there.  When you do, you must tip toe through Thai officialdom.  Thailand has helped our business, but thankfully the junta soured our ambitions of setting up an office there.  It is a nice place to visit, but I would not want to set up a business there. 

[BEVUP]

Means business

Where ? in Thailand , because the rest of the world don't rely on Face book to do it 

& I'm amazed they can remain in business as they seem to have way to many people working in them - like the hardware chains 

[Baerboxer]

4 hours ago, Samui Bodoh said:

 

Me thinks the World Bank Group needs to get out of their office a bit more.

 

I don't even run a business here, but I know that running a business here is pure madness. The second that you run up against officialdom (and you quickly will), you are in for it.

 

Run fast and far while you can, come back when you can afford it.

 

Thailand is GREAT when you aren't trying to make money.

 

 

And yet there are many successful businesses here. Many foreign businesses here through JV's and subsidiary companies. Many foreign tech businesses that are successful. It seems those who aren't successful like to blame the PESTLE environment. Those that are, mostly it seems, keeps a low profile.

I've seen success and failure here - Thai and foreigner. It's not the easiest environment for sure; but to suggest it's considerably worse than the World Bank report says is based on what? Your"gut feeling" ?

 

The World Bank is a UN organization. I know several current and former employees. All are very well qualified, academically and experience, and have access to development programs. Slagging them off because something they do doesn't fit your view point (based on what?) doesn't really cut the mustard.

[Eric Loh]

It's good to make use of the current lull time to improve the business process. What else can you do when there are so little new investments both domestic and foreign.

[Baerboxer]

Just now, Eric Loh said:

It's good to make use of the current lull time to improve the business process. What else can you do when there are so little new investments both domestic and foreign.

 

You should read up on all the announcements Eric.

 

Thailand, obviously, isn't doing so bad. Not exactly being ignored and punished is it?

 

 

[Eric Loh]

3 minutes ago, Baerboxer said:

 

You should read up on all the announcements Eric.

 

Thailand, obviously, isn't doing so bad. Not exactly being ignored and punished is it?

 

 

I wouldn't settle for 'doing not bad". We should be be Asia Tigers if not for a wasted decade of 2 coups. We should be averaging 6% GDP and not struggling and bragging when we hit 3.6%. We have been punished by foreign direct investors that decided to go elsewhere. So much losing mate. 

[nong38]

The best business in Thailand is no business. Can a foreigner own a business in Thailand? Can he/she own property in Thailand?

Everything points to a local business for locals, why would anyone want to start a business here to try and compete against the locals, the locals buy from the locals and the whole scene is bent in that direction, you can come and try and lose your money thats ok but if by some miracle you make a success of it at the expence of the Thais you can be sure the rules will be changed and not just for your benefit.

 

[hawker9000]

"Report shows that Thailand means business"

 

Yeah ..........  monkey business ...