Business Friendly Regulations pay off as Thailand ranks 18th in World Bank Report

[webfact]

Business Friendly Regulations pay off as Thailand ranks 18th in World Bank Report
By Khaosod Online



BANGKOK: -- Thailand ranks the 18th in World Bank′s ′Ease of Doing Business 2014 Report′, while the Public Sector Development Commission (OPDC) promises optimistic leap in 2 years.

The report also indicated that Singapore still holds the 1st place for 8 years in a row, while Hong Kong follows at the 2nd place. Notably, the 2014 report presented details of Myanmar for the first time, in which the nation was placed at the 182nd country with the ease of doing business.

189 countries are evaluated by the 10 key performance indicators, and Thailand had shown better performance in Tax Payment (14th), Construction Permits (12th) and Investors protection (12th).

Meanwhile, some dwindling indicators are Starting a Business (91st), Access to Electricity (12th), Property Registration (29th), Getting Credit (73rd) and Border Trades (24th).

OPDC Secretary-General, Mr. Areepong Bhoocha-oom, said that the Office would promptly improve the structure of public sectors’ service quality in 4 areas to enhance a more business-friendly atmosphere.

OPDC plans to develop a better payment system of the public sector through a negotiation with commercial banks, elaborate single IT system.

At the same time, the office also wishes to appoint the Customs Department to be the coordinator and facilitator to the transnational trade in a One Stop Service manner, and add more convenience for foreign investors who wish to invest in Thailand.

The plan will be carried out in 2014, as Mr. Areepong expressed his confidence that the improvement made to these 4 factors would push Thailand into the first 10 countries in the World Bank report within the 2 years.

Source: http://www.khaosod.co.th/en/view_newsonline.php?newsid=TVRNNE16RXpNell5TUE9PQ==

-- KHAOSOD English 2013-10-31

[Thai at Heart]

Meanwhile, some dwindling indicators are Starting a Business (91st), Access to Electricity (12th), Property Registration (29th), Getting Credit (73rd) and Border Trades (24th).

Great

[soi41]

If Thailand ranks 12th in "Investor protection", we can only conclude that investors are in dire straits worldwide!!

[gone2]

nothing to see here. just confirms what we all knew already, ie. world bank as with most other of the extra judicial bodies under the jurisdiction of no law court accountable to absolutely no-one, are totally corrupt to the back teeth and further.

http://doingbusiness.org/rankings

look at cambodia 137 then thialand 18 then sing 1. which is the easiest to get going by 10000 country miles? ie you pay to get up this ranking, the more you pay the higher your ranking

Edited October 31, 2013 by gone2

[Jim walker]

So business wise everything is rosy in Thailand since they stamped out the corruption element completely.

[Crushdepth]

Apparently the non-regulatory difficulties of doing business (ie. corruption) are not included in the report.

18th my arse.

[FarangTalk]

Far easier to do business in Cambodia from my own experience.

I can own 100% of my own business there, unlike in Thailand, while business visas are far easier to obtain etc.

To have a Singaporean company Singaporean nationals have to be involved during the setup I believe, and it is almost impossible to get residency nowadays.

[gemini81]

A list from world bank cartels is like 'Swindler's List.'

[Lupatria]

Meanwhile, some dwindling indicators are Starting a Business (91st), Access to Electricity (12th), Property Registration (29th), Getting Credit (73rd) and Border Trades (24th).

Great

And the guy who produces the “Thailand No. 1” bumper stickers will have to eat rotten rice for the rest of his life.

[GrantSmith]

Of course it's business "friendly" here in Thailand. You "lobby" the right person and the world is your oyster.

[pablodiablo]

you never hear thailand talked about, on bloomberg or cnbc, thats becouse thailand is not a player, and there is nothing to talk about! maybe they are concernd about being locked up if they are critical about this (wonderfull institution)

Edited October 31, 2013 by pablodiablo

[razer]

So business wise everything is rosy in Thailand since they stamped out the corruption element completely.

That's right! Tourism is booming. Foreign Direct Investment is skyrocketing. Companies no longer have to pay what is called in corporate code of conduct jargon "facilitation fees." Police no longer ask for money to allow you to open your door for business. Protectionist import duties have been lifted AND Thai immigration is so very much more friendly for expats working in Thailand... Somewhere .... over the rainbow ... blue birds fly ... and Thailand is the best place to get your dream ROI.

[Thai at Heart]

The only thing that improved in the measures was that the government reduced the taxes to pay on behalf of employees.

That reduced their score hugely. All other parts of the index went the other way.