World Bank ranks Thailand No. 18 in terms of business friendliness

[webfact]

World Bank ranks Thailand No. 18 in terms of business friendliness



BANGKOK, 8 July 2014 (NNT) -The World Bank has revealed that Thailand has been listed in the Top 20 countries based on its ‘Ease of Doing Business’ report.

According to the Doingbusiness.org website, Thailand has retained its 18th spot for year 2014 again based on the World Bank’s evaluation of 189 countries in regard to convenience in doing business.

The World Bank based the rankings on several indicators such as operating procedures, business convenience, overheads, laws and regulations, and the overall obstacles of running a business.

Singapore topped the list as the No.1 most favorable place to do business in, closely followed by Hong Kong, New Zealand, and the United States. Canada and Mauritius were listed 19th and 20th respectively, just a notch below Thailand.

Thailand is also ranked 6th in Asia and 3rd in ASEAN in terms of being the most convenient place to do business. From these statistics, it is expected that investors would be more confident and interested in investing in Thailand.

-- NNT 2014-07-08

[NeverSure]

Huh??

[ginjag]

Huh??

And interest paid out ??? ranks where???

[UbonRatch]

Huh??

Anything's easy, if there's brown envelopes involved.

[kmj]

Good ranking as it was for a benchmark up to june 2013 so nothing to do with recent events, a fact conveniently omitted from the article

Edited July 8, 2014 by kmj

[NongKhaiKid]

Ever gone into a branch of your bank other than where the account is held and tried to do anything other than deposit or withdraw ?

[jpeg]

Ever gone into a branch of your bank other than where the account is held and tried to do anything other than deposit or withdraw ?

I hear what you say but when my bank recently refused a transfer service I simply popped next door into another, not my bank, and they couldn't have been more helpful. Worst - BB and SCB. Best - Ayudhya and Kunsri.

[EyesWideOpen]

This is absurd. Thailand, the land of brown envelopes, corruption, absurd laws, and shakedowns,

ranked as more business friendly than Canada ? Either this report is fake, or someone got

paid off....

[jaidam]

I would have thought that being prohibited from owning a majority share in your business would put the dampers on "business friendliness". Invest 100% of the capital and then own a 49% share in your business, hooray!

[webfact]

Thailand slips one place in World Bank’s top 20 countries to do businesses report



BANGKOK: -- Thailand was listed by the World Bank among the world's top 20 countries to do businesses.

Although the ranking of Thailand this year will drop one place to 18th from 17th in 2012, the country remained the most favourable place for doing businesses in ASEAN, after Singapore and Malaysia.

Thailand was ranked 6th in Asia and 3rd in ASEAN in terms of being the most convenient place to do business.

Malaysia improved significantly from last year’s 18th place to 6th place this year.

Singapore remains the world’s best place to do business coming on top of the list of 189 countries for the seventh consecutive year.

The ease with which companies can start and run their businesses correlates with countries’ regulations and protection of property rights, according to the World Bank’s Doing Business 2013 report.

In 2013 like in 2012, Singapore ranks first for the ease of doing business and New Zealand tops the chart for starting a business. Many sub-Saharan African countries and Venezuela are at the bottom of the ranking.

The World Bank based the rankings on several indicators such as operating procedures, business convenience, overheads, laws and regulations, and the overall obstacles of running a business.

Singapore topped the list, followed by Hong Kong, New Zealand, and the United States. Canada and Mauritius were listed 19th and 20th respectively, just a notch below Thailand.

The Doing Business 2013 report, published in October 2012 (the tenth in a series of annual reports), ranks countries on 11 indicators: The indicators include;

• Starting a business (procedures, time, cost and paid-in minimum capital to open a new business)
• Employing workers (rigidity of employment index, redundancy costs)
• Enforcing contracts (procedures, time and cost to resolve a commercial dispute)
• Resolving Insolvency (the time, cost and outcome of insolvency proceedings involving domestic entities)
• Getting credit (strength of legal rights index, depth of credit information index)
• Registering property (procedures, time and cost to transfer commercial real estate)
• Protecting investors (strength of investor protection index: extent of disclosure index, extent of director liability index and ease of shareholder suits index)
• Paying taxes (number of tax payments, time to prepare and file tax returns and to pay taxes, total taxes as a share of profit before all taxes borne)
• Trading across borders (documents, time and cost to export and import)
• Dealing with construction permits (procedures, time and cost to obtain construction permits, inspections and utility connections)
• Getting Electricity (applications and contracts with electricity utilities, all necessary inspections and clearances from the utility and other agencies until the external and final connection works).

For a complete discussion of the methodology of the Doing Business report.



Source: http://englishnews.thaipbs.or.th/thailand-slips-one-place-world-banks-top-20-countries-businesses-report/


-- Thai PBS 2014-07-08

[NeverSure]

I love the blue banner in the upper left of the pic above.

"The World Bank."

"Doing Business."

"Measuring Business Regulations"

They'd need a dozen super computers to measure Thailand's business regulations. And they ranked Thailand as easy to do business?

[bkkjames]

I guess getting Electricity in Canada is tougher than I thought.

[zydeco]

Maybe for Thais, this ranking is true. But any foreign investor will have his pockets picked clean and made to climb a mountain of rules, regulations, bribes, and infrastructure insufficiency. Worst of all is the fact that you cannot rely on precedent, too many things subject to personal whim and administrative fiat. I would never bring money into Thailand in order to do business.

Edited July 8, 2014 by zydeco

[EyesWideOpen]

I would have thought that being prohibited from owning a majority share in your business would put the dampers on "business friendliness". Invest 100% of the capital and then own a 49% share in your business, hooray!

I would have thought the same, that any country with a law that in essence gives full control of your

company to the 51% Thai " investors" ( you are actually putting up the money).

would knock out it out of the running for a survey about business investment. I know

that has stopped my from ever even thinking about opening a business here. Plus the

Thai police coming around for their monthly shakedown would be a bit of a downer as well.....

[chooka]

Who would do business with and trust a thai? The moment you set up your business you wipe off 51% you are already running at a loss before even opening the doors. If Thais want to do business with foreigners then go to them where there is a even playing field and Thais have to contribute some capital to get their share and not just sit back and get 51% for free and no risks.

Edited July 8, 2014 by chooka

[kotsak]

[wilcopops]

....or 18th for brown-nosing those with big money?

[Pralaad]

May be world bank did not take into account the fact that foreigners can not own business 100%

[HUAHIN62]

This is absurd. Thailand, the land of brown envelopes, corruption, absurd laws, and shakedowns,

ranked as more business friendly than Canada ? Either this report is fake, or someone got

paid off....

Google it and read the full report of how the study is done and which factors are measured, before blowing your top. Its an World Bank study, so much for fake and paid off.

[godden]

Friendly, have you never noticed when someone is conning you they always smile.

[soalbundy]

In this life,one thing counts

in the bank,large amounts

I'm afraid these don't grow on trees

you've got to pick a pocket or two boys

you've got to pick a pocket or two

[Thai at Heart]

Thailand slips one place in World Bank’s top 20 countries to do businesses report

BANGKOK: -- Thailand was listed by the World Bank among the world's top 20 countries to do businesses.

Although the ranking of Thailand this year will drop one place to 18th from 17th in 2012, the country remained the most favourable place for doing businesses in ASEAN, after Singapore and Malaysia.

Thailand was ranked 6th in Asia and 3rd in ASEAN in terms of being the most convenient place to do business.

Malaysia improved significantly from last year’s 18th place to 6th place this year.

Singapore remains the world’s best place to do business coming on top of the list of 189 countries for the seventh consecutive year.

The ease with which companies can start and run their businesses correlates with countries’ regulations and protection of property rights, according to the World Bank’s Doing Business 2013 report.

In 2013 like in 2012, Singapore ranks first for the ease of doing business and New Zealand tops the chart for starting a business. Many sub-Saharan African countries and Venezuela are at the bottom of the ranking.

The World Bank based the rankings on several indicators such as operating procedures, business convenience, overheads, laws and regulations, and the overall obstacles of running a business.

Singapore topped the list, followed by Hong Kong, New Zealand, and the United States. Canada and Mauritius were listed 19th and 20th respectively, just a notch below Thailand.

The Doing Business 2013 report, published in October 2012 (the tenth in a series of annual reports), ranks countries on 11 indicators: The indicators include;

• Starting a business (procedures, time, cost and paid-in minimum capital to open a new business)

• Employing workers (rigidity of employment index, redundancy costs)

• Enforcing contracts (procedures, time and cost to resolve a commercial dispute)

• Resolving Insolvency (the time, cost and outcome of insolvency proceedings involving domestic entities)

• Getting credit (strength of legal rights index, depth of credit information index)

• Registering property (procedures, time and cost to transfer commercial real estate)

• Protecting investors (strength of investor protection index: extent of disclosure index, extent of director liability index and ease of shareholder suits index)

• Paying taxes (number of tax payments, time to prepare and file tax returns and to pay taxes, total taxes as a share of profit before all taxes borne)

• Trading across borders (documents, time and cost to export and import)

• Dealing with construction permits (procedures, time and cost to obtain construction permits, inspections and utility connections)

• Getting Electricity (applications and contracts with electricity utilities, all necessary inspections and clearances from the utility and other agencies until the external and final connection works).

For a complete discussion of the methodology of the Doing Business report.

Source: http://englishnews.thaipbs.or.th/thailand-slips-one-place-world-banks-top-20-countries-businesses-report/

-- Thai PBS 2014-07-08

Absolutley hilariuous rankings. Thailand 91st for starting a business, where of course, the point of coming to Thailand is to START a business, ranks above Canada where no one is starting a business.

[Emster23]

As if we need another reason to question World Banks credibility.

[Chao Lao Beach]

But they forget to include the fact that you are not allowed to own or do business in Thailand.

World Bank, WHO, UN are all incompetent turds.

[dcutman]

18 is pretty respectable ranking for ease of doing biz. Staring a biz 91st? That needs some work. After all it not all that easy if you cant start one. Getting credit, should be easier to get if the govt really wants to attract business.

[h90]

Ever gone into a branch of your bank other than where the account is held and tried to do anything other than deposit or withdraw ?

I hear what you say but when my bank recently refused a transfer service I simply popped next door into another, not my bank, and they couldn't have been more helpful. Worst - BB and SCB. Best - Ayudhya and Kunsri.

Here best is the Bangkok Bank and Kasikorn, while Ayudhya branch seems like you enter a time machine into the past+another planet.

Seems it depends on the branch.

[chooka]

But they forget to include the fact that you are not allowed to own or do business in Thailand.

World Bank, WHO, UN are all incompetent turds.

Of course you are allowed to do business in Thailand. Thais encourage it, you contribute 100% of the costs, a Thai takes 51% and control and as the major shareholder has control of your company. If you do not agree to his terms then he slaps a defamation suit on you and takes the remaining 49% along with costs compensation for the trauma you caused him. Business 101 Thai style, never contribute a single satang but own the company and the 1st born of the original founder.

Only a total idiot would do business in Thailand.

[wandasloan]

Thank goodness for the Official Thai Visa Patpong Millionaires Club, formed for the specific purpose of setting the World Bank and similar stupid organisations straight.

[EyesWideOpen]

This is absurd. Thailand, the land of brown envelopes, corruption, absurd laws, and shakedowns,

ranked as more business friendly than Canada ? Either this report is fake, or someone got

paid off....

Google it and read the full report of how the study is done and which factors are measured, before blowing your top. Its an World Bank study, so much for fake and paid off.

Bemused commentary is more like it. The report is comprised of a series of factors,

they simply forgot to put in the one where you put up all the money and then turn

over 51% of your new company to Thais. As the report is nothing more than a survey

done of people who have business here, perhaps they forgot to ask them about company ownership. I assume in Singapore, ranked number one, that I would actually own the business

I start there ??

[Chris Lawrence]

Whats happened to the 17 banks pre-coup that wanted to get into Thailand to do business?

Just another feel good story.