Thailand Up Two Spots On World Bank Business-friendly Rankings

[george]

Thailand up two spots on World Bank business-friendly rankings

BANGKOK: -- Thailand is ranked 15th out of 178 economies in the ease of doing business, moving up from 17th last year after adopting the E-Customs system in the export and import sectors, according to the World Bank's "Doing Business 2008" report.

In the same list, Thailand ranks fourth in East Asia after Singapore, Hong Kong and Japan.

In the area of "trading across borders", Thailand's ranking has improved from 103 last year to 50 this year.

Dr. Kirida Bhaopichitr, World Bank economist for Thailand, stated that the kingdom moved up in the world's most business-friendly countries rank because many reforms to reduce time, cost and procedures in importing and exporting, in which E-Custom plays a major role, have been implemented.

However, Thailand have fallen to 89th, from 59th last year, in "paying taxes" as the private companies spent more time in this process, from 104 to 264 hours.

The country's rankings in starting a business, top reformers, dealing with licenses, closing a business, and getting credit also dropped even though the indicators under each area are similar to last year's because other countries have promoted themselves in anticipation of better ratings.

Meanwhile, Singapore remains the world's easiest place to do business for the second year, followed close behind by New Zealand, the United States, Hong Kong, China and Denmark. Egypt also tops the list of

reformers making it easier to do business with great improvements in five of ten areas stated in the report after its government changed laws and regulations to make it substantially easier for operating businesses.

Eastern European and Central Asian countries surpass East Asia this year in the ease of doing business as their governments have eased some regulations to attract more entrepreneurs into business.

"Doing Business" is the annual report of the World Bank and the International Finance Corporation measuring regulations in ten areas affecting daily business. Based on ten areas including starting a

business, getting credit, protecting investors, closing a business, and the like, it ranks countries on their overall ease of doing business and analyses reforms in business regulation, identifying which countries are best improving their business environment and which are slowing down.

"Doing Business 2008" looks at reforms that have taken place from May 2006 to June 2007.

--TNA 2007-09-26

[sriracha john]

COMPETITIVENESS

Thailand ranked 15 on the ease of doing business

Thailand was ranked 15 in this year's World Bank's ranks on the ease of doing business, according to the bank "Doing Business 2008" report. The country was ranked fourth among Asian countries.

Its better rank is due to the improved customs process after the promotion of the e-customs system. Thailand was ranked 17 worldwide last year.

Singapore tops the aggregate rankings consecutively for the second year.

-The Nation

Edited September 26, 2007 by sriracha john

[Scott]

But a recent report on corruption shows that Thailand has gotten worse. It's a little hard to understand how the business sector has gotten better and corruption gotten worse, or does that mean it's easier to "grease someone's palms" to get things done.

[A_Traveller]

I find this bizarre, the detail of the report identifies taxation areas as being serious issues, yet Thailand improves by two places. Equally the improvement may be further complicated by changes in the calculations for 2006/2007 to accommodate three new countries in the analysis. Odd.

Regards

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