Thai Commerce Min to shorten business application process to 1 day

[webfact]

Min of Commerce to shorten business application process to 1 day

BANGKOK, 1 March 2016 (NNT) - The Ministry of Commerce will streamline the business application process to have a turnaround of just one day, as part of its efforts to attract more foreign investment to Thailand.

Potential entrepreneurs are now able to lodge a business application through the new system called Biz Portal. The application system was developed under a joint effort between the Department of Business Development, Office of the Public Sector Development Commission, Department of Labour Protection and Welfare, and Electronic Government Agency.

The application process via Biz Portal currently takes six days instead of the previous 27-day period. Deputy Commerce Minister Suwit Maesincee said the system is being re-modeled to further shorten the application process to a single day. The new turnaround time is expected to be effective from June 1.

The move is also aimed at improving Thailand’s ranking on the ‘Doing Business 2017’ report by the World Bank Group (WBG). According to the WBG, the report ranks each country based on the ease of doing business. The higher the rank, the easier it gets for investors to operate a business. The WBG will launch a survey in June and release its findings in October.


-- NNT 2016-03-01

[thesetat2013]

Making it easier to apply will not increase the amount of businesses starting. It's all the other payoffs and delays and harassments that you have to deal with even if you have that license. They need to start there and then make it easier for people throughout the whole process and continuation of their fully operational business

[khunpa]

Hahahahaha... more foreign investmemt??? Foreign companies have no interest in Thailand any longer! Thailand has done and are doing everythimg possible to scare away foreign investment with their nationalistic attitude.

Now they can change all they want. They already ruined it for themselves. Nobody will invest in a place where they do not feel welcome and are harassed because of not being Thai.

[bangkokfrog]

Laughable. Foreign companies don't care if it takes one or thirty days to register a business. They have lawyers for that and are accustomed to something that seems lacking in business here... thinking and planning ahead!

[SOUTHERNSTAR]

Waiting for the application's to rain down are we ? Desperate people take desperate actions.

[Srikcir]

Compared to 183 ranked countries and the ASEAN countries, Thailand's ranking is fairly good overall.

1. Singapore 11. Taiwan 84. China 109. Indonesia

4. South Korea 18. Malaysia 90. Vietnam 127. Cambodia

5. Hong Kong 34. Japan 103. Philippines 134. Laos

6. UK 49. Thailand

7. USA 51. Russia

ref: http://www.doingbusiness.org/~/media/GIAWB/Doing%20Business/Documents/Annual-Reports/English/DB16-Full-Report.pdf