Thailand Ranks Ninth in the World for Country Most Open for Business

[webfact]

 

The Royal Thai Embassy in the United States has announced through its Facebook page that Thailand has secured ninth place among 87 countries listed as the most open for business in 2023.

 

The annual ranking – known as ‘Best Country: Open for Business in 2023’ – is organized by the US News and World Report.

 

The ranking considers an equal weighted average of five factors comprising bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.

 

Leading the list as the most open country for business is Switzerland, followed by Luxembourg and Finland.

 

By Adam Judd

 

Full story: THE PATTAYA NEWS 2023-09-18

 

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[Gknrd]

Just goes to show you how much nonsense the US company will endure for cheap labor. 

[IamNoone88]

Really .. when you can only own 49% of your own business? They need to rethink at least two more points on the list as well.

[hotchilli]

2 hours ago, webfact said:

The Royal Thai Embassy in the United States has announced through its Facebook page that Thailand has secured ninth place among 87 countries listed as the most open for business in 2023

One -way business.

[hotchilli]

2 hours ago, webfact said:

The ranking considers an equal weighted average of five factors comprising bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.

Really?

[Tom H]

With no free trade treaty like Vietnam/EU and this shareholder limited ownership…

 

I think the increase might be related with the escape producing in China?

 

Thailand can win.

[eddie61]

2 hours ago, Gknrd said:

Just goes to show you how much nonsense the US company will endure for cheap labor. 

They probably meant Taiwan…..

28 minutes ago, Tom H said:

With no free trade treaty like Vietnam/EU and this shareholder limited ownership…

 

I think the increase might be related with the escape producing in China?

 

Thailand can win.

 

[Olav Seglem]

Just look at the other 8

Only reason they reach this high must be "price of labour" and "taxes".

And price of labour say nothing of quality or/and stability of labour.

[nobodysfriend]

3 hours ago, webfact said:

The ranking considers an equal weighted average of five factors comprising bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.

more corruption , more business- friendly ?

[mrfill]

I guess that's why Switzerland, Luxembourg and Finland are so famous for being absolute hotbeds of American industry..........

[Caldera]

4 hours ago, webfact said:

The ranking considers an equal weighted average of five factors comprising bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.

Surely that must be a joke, as Thailand is abysmally bad in 3 out of those 5 categories.

[Srikcir]

On the other hand Thailand ranks 101st among 180 countries in the Perception of Corruption according to 2022 data with the average world ranking of 43.

With the new Thai government being a blend of the military establishment and political conservatism may not practically advance Thailand's business environment except externally with regimes such as Iran, Russia and China.

[impulse]

3 hours ago, IamNoone88 said:

Really .. when you can only own 49% of your own business? They need to rethink at least two more points on the list as well.

It's from the US News and World Report, Americans being able to own 100% by the Treaty of Amity.

 

I know...  Kinda sucks for the rest of you guys.

 

Edited September 18, 2023 by impulse

[NorthernRyland]

Well if you're an American you can own a business but then you're required to employ Thai's who can be extremely difficult to work with, can't follow orders, don't show up on time etc... Once you have your business you can't even buy a house in your name so there's a hard ceiling making you a renter forever. 

 

Finally you need to re-apply for your visa every year and go through that massive headache. 

 

How is this good compared to getting a green card in the USA?

[jacko45k]

Just now, NorthernRyland said:

Once you have your business you can't even buy a house in your name so there's a hard ceiling making you a renter forever. 

If you own and control a company, surely the house can go in a company name?

[Jimjim1]

1 hour ago, Caldera said:

Surely that must be a joke, as Thailand is abysmally bad in 3 out of those 5 categories

I see 4 of 5 low production costs being the only one with any truth behind it

[lordgrinz]

Of all the places on Earth, this would be one of the countries I would not want to do business with, no matter how good it looks. I just l couldn't trust anything here knowing Thai's are involved, and how would you know anything is even being properly/legally run? When I see illegal building being built on national forest lands regularly in the news, land documents that are illegally obtained, shoddy building practice's, not to mention the corruption involved with doing business here.......what would be the incentive, other than a greedy piece of the corrupt pie?

[jacko45k]

2 minutes ago, lordgrinz said:

Of all the places on Earth, this would be one of the countries I would not want to do business with, no matter how good it looks. I just l couldn't trust anything here knowing Thai's are involved, and how would you know anything is even being properly/legally run? When I see illegal building being built on national forest lands regularly in the news, land documents that are illegally obtained, shoddy building practice's, not to mention the corruption involved with doing business here.......what would be the incentive, other than a greedy piece of the corrupt pie?

Yes, it is  a sad situation.....  I am reticent to be charitable here as I don't trust in the people doing the collecting. I also recently saw evidence of some personal information having been leaked and suspect immigration....

[Cabradelmar]

If you're going to lie, at least make up a plausible lie... 9th in the entire world ????????????

[FritsSikkink]

4 hours ago, IamNoone88 said:

Really .. when you can only own 49% of your own business? They need to rethink at least two more points on the list as well.

Americans can own 100%

[FritsSikkink]

1 hour ago, NorthernRyland said:

 you're required to employ Thai's who can be extremely difficult to work with, can't follow orders, don't show up on time etc...

Then your HR qualities are below par. I know loads of great Thai workers.

Edited September 18, 2023 by FritsSikkink

[impulse]

5 minutes ago, FritsSikkink said:

1 hour ago, NorthernRyland said:

 you're required to employ Thai's who can be extremely difficult to work with, can't follow orders, don't show up on time etc...

Then your HR qualities are below par. I now loads of great Thai workers.

It's the same guys who lament not being able to find good help back home, when they're offering minimum wage.

 

I worked with dozens of very competent, responsible Thai employees.  We paid them well enough that they wanted to perform well and stay.  Still a tiny fraction of what we paid "back home".

 

[NorthernRyland]

1 hour ago, jacko45k said:

If you own and control a company, surely the house can go in a company name?

No it's always the same law foreigners can not own land. 

[NorthernRyland]

6 minutes ago, impulse said:

It's the same guys who lament not being able to find good help back home, when they're offering minimum wage.

 

I worked with dozens of very competent, responsible Thai employees.  We paid them well enough that they wanted to perform well and stay.  Still a tiny fraction of what we paid "back home".

Fair enough I'm thinking of hiring staff for restaurants or builders, handy men etc... and I've seen those people fail so badly so often. You just can't hold them to American standards of working so don't think you can just come to Thailand and start barking orders and expecting people to show up at exactly 8 AM and do everything exactly like you told them too.

[lordgrinz]

3 minutes ago, NorthernRyland said:

Fair enough I'm thinking of hiring staff for restaurants or builders, handy men etc... and I've seen those people fail so badly so often. You just can't hold them to American standards of working so don't think you can just come to Thailand and start barking orders and expecting people to show up at exactly 8 AM and do everything exactly like you told them too.

Don't even get me started on "Thai Time", I find my blood pressure won't handle it.

[NorthernRyland]

53 minutes ago, lordgrinz said:

and how would you know anything is even being properly/legally run?

this is a whole other issue that will make it very difficult to work with Thai's on a higher level. There is a certain degree of corruption with Thai's which makes them see the law as more of suggestion and that spills over into work. 

 

So many times if you try to get a Thai person to do some job for you, they'll do it up to 90% and then hack the final 10% because it was easier for them, and in their eyes 90% is good enough.

 

100% of the time they'll fire your ass in America for doing this so good luck to Americans moving to Thailand and trying to work with the Thai's. Just come here to relax and play with the girls but leave the work back home.

[lordgrinz]

3 minutes ago, NorthernRyland said:

this is a whole other issue that will make it very difficult to work with Thai's on a higher level. There is a certain degree of corruption with Thai's which makes them see the law as more of suggestion and that spills over into work. 

 

So many times if you try to get a Thai person to do some job for you, they'll do it up to 90% and then hack the final 10% because it was easier for them, and in their eyes 90% is good enough.

 

100% of the time they'll fire your ass in America for doing this so good luck to Americans moving to Thailand and trying to work with the Thai's. Just come here to relax and play with the girls but leave the work back home.

The main issue to me is being dragged into court based on who knows what, corruption scandals, illegal operation, forged land documents, etc.  

 

Just not worth the hassle.

[NorthernRyland]

1 minute ago, lordgrinz said:

The main issue to me is being dragged into court based on who knows what, corruption scandals, illegal operation, forged land documents, etc.  

 

Just not worth the hassle.

my brother is trying to quit his business in Thailand because of the hassles with immigration and multiple times now incompetent accountants have screwed up his taxes and this resulted in paying bribes to immigration to fix the mistakes. Every year they make you do this so you're never at peace.

 

It's a joke Thailand is an easy country to work in unless you're one man with a wok on a street corner, try that in America and see how far you get.

[impulse]

13 minutes ago, NorthernRyland said:

100% of the time they'll fire your ass in America for doing this so good luck to Americans moving to Thailand and trying to work with the Thai's. Just come here to relax and play with the girls but leave the work back home.

Nope.  Only 86.4% chance.

 

I still remember my summer working for a Fortune 100 oil company, when 5 secretaries came back from lunch at 3:00PM loaded down with shopping bags.  4 of them were fired.  I'll let you guess why they didn't fire the 5th one.

 

Getting sued for discrimination, not a problem in Thailand.

 

 

[NorthernRyland]

5 minutes ago, impulse said:

I still remember my summer working for a Fortune 100 oil company, when 5 secretaries came back from lunch at 3:00PM loaded down with shopping bags.  4 of them were fired.  I'll let you guess why they didn't fire the 5th one.

 

oh don't get me started on that. I've seen diversity hires blow up too once. Don't get me wrong Thailand is generally a difficult place to do business  but America is going down fast and hard in real time.