Thai ranking in Ease of Doing Business 2020 up 6 places

By The Nation

 

Finance Minister Uttama Savanayana

 

Finance Minister Uttama Savanayana announced today (October 24) that Thailand’s ranking in the World Bank’s Ease of Doing Business 2020 list has edged up from 27th to 21st this year, out of 190 countries surveyed.

 

“Thailand’s scores are 80.10 , up 1.65. This is our highest rank in the past six years, “ he said.

 

Thailand is close to catching up with Malaysia’s scores of 81.50 and Singapore’s 86.20. Singapore is ranked second and Malaysia 12th in Doing Business 2020, he said.

 

Thailand has done better in dealing with construction permits by cutting 19 procedures to 14 and waiting times for approval from 118 days to 113 days, up-ranking to 34th place from 67th place previously .

 

Uttama said the country had also improved in protecting minority investors, pushing up the rank in this category to third place from 15th last year.

 

However, he admitted that Thailand still has to improve in many areas in order to provide more convenience for running business in the country.

 

For this year’s index, the World Bank looked at regulations affecting 10 areas in the life of a business, namely: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

 

Source: https://www.nationthailand.com/business/30377691

 

-- © Copyright The Nation Thailand 2019-10-24

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they know how to make us laugh... Finance same as TAT  555

1 hour ago, webfact said:

Thai ranking in Ease of Doing Business 2020 up 6 places

The ease of doing business in Thailand is directly proportional to the magnitude and speed of payment required to reach final approval.

Ease of Doing Business for whom? ????

Easy to do business - for Thais. And the business is a food stall or mini shop. Yes, I think to open that is not very difficult in Thailand.

 

Ease of doing business that you can't own a majority share in. Amazing!

Edited October 24, 20196 yr by Sticky Wicket

Did 6 countries not pay their status money and dropped out?

8 minutes ago, Sticky Wicket said:

Ease of doing busines that you can't own a majority share in. Amazing!

It doesn't mention foreigners anywhere in the article. As the previous poster wrote, for Thais to open a small business is very easy.

It's good that the ease of doing business in Thailand is getting better, but I think the ease of starting a business in Thailand is still quite bad.

A Thai private limited company requires a minimum of 3 shareholders, whereas a private limited company in Malaysia only needs one shareholder. In Malaysia, there's an alternative business structure called the Limited Liability Partnership that is cheap to maintain and doesn't require secretaries and auditors, which unfortunately, is not available in Thailand.

TH is lucky that ease of finding skilled staff and issuing work permits for foreigners is not reflected in this statistic.

From everything I have read, this is nothing to do with foreigners ease of doing business, just doing business in general.

 

I would expect it is very easy for a Thai to open a business.

 

But if this was only for foreigners doing business, Thailand would be somewhere near the bottom...unless you are Chinese and agree to invest something in the EEC.

22 minutes ago, CNXexpat said:

Easy to do business - for Thais. And the business is a food stall or mini shop. Yes, I think to open that is not very difficult in Thailand.

 

It's the same in Malaysia. Very easy for Malaysians to start a small business, by registering a sole-proprietorship or ordinary partnership, which is usually a one hour process. Foreigners have to choose the private limited company or limited liability partnership route.

9 minutes ago, CLS said:

TH is lucky that ease of finding skilled staff and issuing work permits for foreigners is not reflected in this statistic.

99,9% of the businesses in countries, Thailand, UK, USA, Australia, etc. are owned by locals. So why should come foreigners in the statistics?

The finance minister is gesticulating the size of the wad required for easy business???? 

Doing business in Thailand summed up in one image.

 

Wasn't there a recent article of Thailand DROPPING in the ranks for ease of doing business?

1 hour ago, CNXexpat said:

99,9% of the businesses in countries, Thailand, UK, USA, Australia, etc. are owned by locals. So why should come foreigners in the statistics?

Is that so? Come to my city most business owners are Asian and many Thai

 

16 minutes ago, White Christmas13 said:

Is that so? Come to my city most business owners are Asian and many Thai

 

Wherever your city is. Sure that they are foreigners?

31 minutes ago, CNXexpat said:

Wherever your city is. Sure that they are foreigners?

I live in Perth and I can tell the different between Asians and Australians,

and I don't say I don't like Asian people, I actually love them and yes more

businesses are owned by foreigners

Would be interesting to see stats about ease of doing business for foreign owned companies. HK would probably be somewhere on the top.

I just got robbed for the last time via Lazada. bought some bike tires under a 7 day return policy. Tried to return the 2nd day, seller denied the return, saying it was my fault I bought the wrong size. No matter the 7 day return posted. Lazada said So Sorry. Buyer loses. Doing business in Thailand on a small scale sucks. Customer service is non-existent. I can imagine how hard it is for a big company to do anything.

Ease of doing business with only one country—Communist China.  Thai Baht on afterburners now, and few countries can afford Thai exports.