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World Bank Rates Thailand In Top Twenty


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The World Bank has rated Thailand as 17th easiest country to do business in out of 183 countries assessed. It also achieved the second highest ranking in SE Asia after Singapore which was ranked number 1 in the world.Interestingly Thailand ranked higher than France, Germany and Japan.According to the WB in their report Doing Business 2012: Doing Business in a More Transparent World

The 20 economies with the most business friendly regulation as refl ected in their ranking on the ease of doing business are Singapore; Hong Kong SAR, China; New Zealand; the United States; Denmark; Norway; the United Kingdom; the Republicof Korea; Iceland; Ireland; Finland; Saudi Arabia; Canada; Sweden; Australia; Georgia,Thailand; Malaysia; Germany; and Japan"

Country 2012

Ranking

Singapore

1

Thailand

17

Malaysia

18

Vietnam

98

China

91

Brunei

83

Indonesia

129

Cambodia

138

Philippines

136

Laos

165

Source: http://www.doingbusiness.org

The ranking is "based on indicator sets that measure and benchmark regulations aff ecting 10 areas in the life cycle of a business: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also looks at regulations on employing workers, which are not included in this year’s aggregate ranking"

Edited by kruangfaifar
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These people obviously dont deal with banks and just match a number to a country on the map.....In Thailand I have walked in a bank with just my passport and opened a bank acount within 12 minutes. I have left the bank with passbook, ATM and pin number in hand...a fully opened and operational account in 12 minutes!!!!!...In the UK, the same thing would take me almost a month, also I would need documents certified by a lawyer at considerable expense,...1 week, get your passbook, 2nd week an ATM and the 3rd week pin number.....Banks in the UK are so scared of the FSA they are useless to deal with..call centers in India that take about an hour to get through to......I personally think Thailand should be in the top 5........and also other dealings such as loans, SCB especially have always been fantastic, and their Easynet is way in front of any online banking system in the UK

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compared to a bank in Europe, Hong Kong or Singapore Thailand's banking system is indeed fantastic and it's fun doing business in Thailand which involves banking. when i call my bank in Europe or Singapore and issue instructions such as

-convert AUD 200k into USD value mar11, 2012

-sell forward EUR 185k vs JP¥ value dec31, 2012

-transfer EUR 20k to my account with Siam Commercial

-sell all XS0221762932, limit 25.35

i get a boring "yes sir!"

should i call Siam Commercial with the same instructions i'd get a roaring laughter and the question "how much Lao Khao yesterday evening Khun Naam?"

whistling.gif

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The relative ease in which banking regulations are circumvented also make it easier for foreigners to find their assets taken by angry spouses, e-system based thieves and others.All this with no recourse offered the victim. It also makes for a money laundering paradise.

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Seems like a lot of BS to me! How can China be rated 3 in the top 20 in the paragraph listing the top 20 countries and then drop to number 91 in the list. Typical crappy non-news story which leaves the reader with more questions after reading.

wai.gif

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The relative ease in which banking regulations are circumvented also make it easier for foreigners to find their assets taken by angry spouses, e-system based thieves and others.All this with no recourse offered the victim. It also makes for a money laundering paradise.

Simple precautions can stop 'an angry wife' taking funds from your account....My SCB account can only have an account added after OTP has been sent to MY phone number, so unless an e thiefe has access to that my funds are safe, unlike UK banks...I think ING are the only bank that have 'linked accounts' all the others, accounts to transfer to can be added immediatley online. Previousley working in the UK banking arena I can say that money laundering there is a major problem...hence the fanatical way banks treat you when opening an account because of the FSA. Couttes were recently fined almost 9 Million Sterling due to ML..and as Naam says..the customer service is great allthough funbiggrin.png ..Many years with SCB and they certainly get my thumbs up for every aspect

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Seems like a lot of BS to me! How can China be rated 3 in the top 20 in the paragraph listing the top 20 countries and then drop to number 91 in the list. Typical crappy non-news story which leaves the reader with more questions after reading.

wai.gif

Read it more carefully. Hong Kong SAR,China is number 3 and China is 91

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The report obviously doesn't cover the 'extra-legal' costs of doing business. China number 3? Yeah right. Thailand would never make it on the list either if the unofficial dues were tallied. "Doing business in a more transparent world" - that's pretty funny.

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The report obviously doesn't cover the 'extra-legal' costs of doing business. China number 3? Yeah right. Thailand would never make it on the list either if the unofficial dues were tallied. "Doing business in a more transparent world" - that's pretty funny.

As a previous poster noted: Honk Kong SAR is rated number 3 China is rater number 91, same country, different financial systems.

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These people obviously dont deal with banks and just match a number to a country on the map.....In Thailand I have walked in a bank with just my passport and opened a bank acount within 12 minutes. I have left the bank with passbook, ATM and pin number in hand...a fully opened and operational account in 12 minutes!!!!!...In the UK, the same thing would take me almost a month, also I would need documents certified by a lawyer at considerable expense,...1 week, get your passbook, 2nd week an ATM and the 3rd week pin number.....Banks in the UK are so scared of the FSA they are useless to deal with..call centers in India that take about an hour to get through to......I personally think Thailand should be in the top 5........and also other dealings such as loans, SCB especially have always been fantastic, and their Easynet is way in front of any online banking system in the UK

opening a bank account in Pattaya does not mean "doing business in Thailand" as per the World Bank report. account opening is indeed a piece of cake but then... the nightmare as well as the fun starts! during the nearly ten years i am banking have bank accounts in Thailand i had the weirdest experiences. half of them i don't dare to tell friends because i'm afraid they might think i went mentally over the cliff laugh.png

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These ratings always make me wonder how they are constructed. This one seems a bit simplistic, when you dig behind the numbers. 2 bits immediately jump out for Thailand: Ranked 9th in terms of "getting electricity" and ranked 14th for "dealing with construction permits".

Believe it or not these 2 out of 10 factors receive the same weighting as other factors! I mean how many businesses actually start from scratch on getting electricity, and how many times do you actually get electricity? really can't see how that has an equal ranking with say getting finance. We all know as well a better measure would be number of times a year you have problems with your electricity = cutting out in the rain etc. As for building permits, most people don't seem to bother and simply pay someone off. Thailand seems to make things easier by skipping safety measures, eg Santika fire, 3 fires in condos on Sukhumvit in under a year recently.

On the other hand I wonder what business on the Ma Tha Put industrial estate fiasco would have to say about permits, clarity of regulations etc

Anyway strip these two out in particular and you probably get a better reflection of where Thailand would sit in my view

http://www.doingbusiness.org/rankings

http://www.doingbusi...ng-business.pdf

smile.png

Edited by fletchsmile
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Opening a bank account is the easy part. What about starting a small business? Obtaining a business visa and work permit - nightmare.

A nation that wants to have visa, WP and pay tax you from working at your computer in Thailand although the job and the corporation are thousands of miles away. Now THAT is genius.

Even sales people bringing things in from abroad (for instance I have a freind who sells static bags to Electronics industry) - illegal.

It seems that the deck is purposefully stacked against the foreigner. Thailand sees business as zero sum. Don't even get me started on customs/excise, trade/tariff, lack of broad trade agreements...

Then there was the guy yesterday who was descended upon by a shake down squad.

The old adage is true for small business - how do you make a small fortune in Thailand? Start with a big one.

Yes, if you are a large corporation - things are very different. But why here when you have Malaysia OR Malaysian workers in Singapore?

Edited by bangkokburning
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Opening a bank account is the easy part. What about starting a small business? Obtaining a business visa and work permit - nightmare.

A nation that wants to have visa, WP and pay tax you from working at your computer in Thailand although the job and the corporation are thousands of miles away. Now THAT is genius.

Even sales people bringing things in from abroad (for instance I have a freind who sells static bags to Electronics industry) - illegal.

It seems that the deck is purposefully stacked against the foreigner. Thailand sees business as zero sum. Don't even get me started on customs/excise, trade/tariff, lack of broad trade agreements...

Then there was the guy yesterday who was descended upon by a shake down squad.

The old adage is true for small business - how do you make a small fortune in Thailand? Start with a big one.

Yes, if you are a large corporation - things are very different. But why here when you have Malaysia OR Malaysian workers in Singapore?

You make some valid points however it is not clear from the details given if it is aimed at foreigners doing business in other countries - if not then the data will apply to the vast majority of businesses here where work permits and visas are not required.

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This is pointed at manufacturing. Thailand is a total hassle compared to Malaysia and Singapore. The reason anyone sets up shop here (and may stop due to floods), is essentially cheap labor. Electronics as any industry tend to group together for sourcing and production. That WAS the attraction before the flood.

On the auto end of it, the dream was that Thailand geographically is a hub for its neighbors so cars can easily be shipped to Thailand's neighbors.

After those industries - Thailand really is not competitive save for agriculture. Vietnam is going to eat it's lunch - wait and see.

Takes two days to open up a small business in Malaysia.

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Opening a bank account is the easy part. What about starting a small business? Obtaining a business visa and work permit - nightmare.

The rules are clear. Follow them and it is not such hassle.

A nation that wants to have visa, WP and pay tax you from working at your computer in Thailand although the job and the corporation are thousands of miles away. Now THAT is genius.

Oh!

And do you also pay tax at the location of the job (which is essentially where you are physically located here in Thailand) and then also at the location of the corporation?

Or are you trying to avoid paying any tax at all?

But I am on your side. I fail to see why I should be forced to pay tax as well, as I disagree with a lot of the policies that the the governments squander money on in order to get re-elected.

Even sales people bringing things in from abroad (for instance I have a freind who sells static bags to Electronics industry) - illegal.

It's not illegal if you set up an import company and officially import the stuff. I am not sure what you are getting at here.

It seems that the deck is purposefully stacked against the foreigner. Thailand sees business as zero sum. Don't even get me started on customs/excise, trade/tariff, lack of broad trade agreements...

Absolutely wrong. Thailand prefers that the profits and income go to Thais. This is a positive sum game for Thailand.

And I agree. After living here for 15 years or so I consider that the profits and income should go to the Thais and improve the living standard of the Thais. Unless you have a very special case which will benefit the Thais far more than it will benefit you personally, I really do not see why you consider that Thailand owes you the right to become rich.

Take the UK, where the policies bend over backwards to support minority groups and immigrants at the expense of the indigenous British . Total bullshit.

"The old adage is true for small business - how do you make a small fortune in Thailand? Start with a big one."

Why do you think you deserve to earn a fortune in Thailand when you are not Thai? Do you speak and write fluent Thai? Do you have local Thai connections? Probably not.

Try going to a European country, for example France, where you don't speak French, don't know the local customs and have no local connections.

Are you going to make a fortune?

No.

The locals know better and have a huge edge.

Same here in Thailand

Where the small noodle stand in a tourist area makes far more money than you could ever hope of making by bringing some huge business idea into Thailand. No tax, no hassle, low overheads and a constant stream of customers.

Edited by 12DrinkMore
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  • 2 weeks later...

I think you will find that the reason why foreign businesses set up in Thailand is more to do with the BoI privileges than cheap labour. Tax holidays, Duty Free import of machinery and numerous other incentives are a big part of it as well as are the well organised Industrial Estates with easy access to power, steam,water and waste disposal. I am not sure what other countries in Asia offer but I suspect that the incentives aren't that great otherwise companies like GM who recently opened a new factory here would surely have gone elsewhere wouldn't they?

Posted with Thaivisa App http://apps.thaivisa.com

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