Thailand falls to 49th on World Bank's Ease of Doing Business ranking

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Thailand falls to 49th on World Bank's Ease of Doing Business ranking

BANGKOK, 20 June 2016 (NNT) - Prime Minister Gen. Prayut Chan-o-cha has instructed relevant agencies to improve business and investment opportunities, after the World Bank revised down Thailand's rank to 49th from 46th for 'Ease of Doing Business.'

According to Government Spokesperson Maj. Gen. Sansern Kaewkamnerd, Thailand placed 49th out of 189 countries for ease of doing business in the country.

The World Bank report evaluates business regulations in each of the 189 countries. The Prime Minister wants every sector involved in promoting investment growth to make it easier for entrepreneurs to invest in the Kingdom.

Gen. Prayut said that entrepreneurs should be made aware of the all investment benefits and incentives. He hopes that Thailand will be ranked higher in the next report.


-- NNT 2016-06-20

[jaltsc]

"Prime Minister Gen. Prayut Chan-o-cha has instructed relevant agencies to improve business and investment opportunities..."

What needs to be done is to change the laws and make it possible/much easier for foreigners to establish businesses in Thailand. One only has to look at Vietnam to see how they have lured foreign investments to their country.

Unfortunately, Thais only see the money that goes into to owners' pockets and believe that if the owner isn't Thai, then the country is losing out on income. What they fail to notice is that successful businesses help everyone involved. They help establish a supply chain that employs more locals. When they have more disposable income, they spend it in their communities and thus help create further employment opportunities.

If the Prime Minister ever suggests that they need foreigners to boost the economy, then that would result in Thailand admitting that they can't go it alone, and thus lose face. He can't instruct agencies to improve business opportunities and be successful without changing the basic Thai culture. And, as anyone who has lived here for a while knows, that will never happen.

On the bright side...This means that inflation will not be happening soon, and anyone (Outside of the larger cities and retirement not spots) living on a western pension can look forward to many more years of low prices and affordable living.

Edited June 20, 2016 by jaltsc

[mtls2005]

Still at/near the top in coups and constitutions, so not all bad.

[Pib]

Prime Minister Gen. Prayut Chan-o-cha has instructed relevant agencies to improve business and investment opportunities,

So let it be written, so let it be done.

[EricBerg]

Foreign Business Act and increasing corruption. Tackle those two and you're going up again.

Unfortunately that is stll not happening.

Similar as the slavery and trafficking in the fishing industry and the sex business. Too lucrative for the Thais to stop it. So eventually because of this greed recession will strike where other Asean countries will keep doing fine.

[Orac]

It fell three places - full details here

http://www.doingbusiness.org/data/exploreeconomies/thailand/

[selftaopath]

The downward spiral of Thailand. The great potential of Thailand unfortunately (IMO) will never be met.

What's the conventional definition of insanity? Doing the same thing over and over and expecting a different outcome. So talk on Thailand talk and talk and talk.

[Winniedapu]

Ah yes. Mr Grumpy waves his magic wand again, so everyone will start using their Harry Potter pencils on the stats again.

Oh. This one came from evaluating regulations and wasn't done by Thais?

They're buggered then...

W

[american12bthai]

thailand only wants Chinese business. only if you are chinese ... then business is an ease. As long as you steal and cheat, the thais will respect that.

[WhizBang]

As a retired business owner, I can say categorically, that unless I can own 100% of my business and have full control of it, and NEVER have to worry about dealing with crooked corrupt officials and police, then I would NEVER consider opening a business here.

15 years ago I did consider it. But once I started really looking around and talking to expats who work here, I very quickly realized what a rotten corrupt system this country has. It has only gotten worse since then.

[skildpadden]

You can instruct from now on until hell freezes over, it will not a change a single thing.

You need to change xenophobic foreign business rules and regulations. You can start with the Foreign Business Act. You can start by removing the rules of 4 thais per foreigner. Then things might change for the better.

Oh, and asking expats what kind of social media they use when applying for work permit doesn't really help on the general confidence as well.

[selftaopath]

You can instruct from now on until hell freezes over, it will not a change a single thing.

You need to change xenophobic foreign business rules and regulations. You can start with the Foreign Business Act. You can start by removing the rules of 4 thais per foreigner. Then things might change for the better.

Oh, and asking expats what kind of social media they use when applying for work permit doesn't really help on the general confidence as well.

"... the rules of 4 thais per foreigner" Could it be that it takes that many - at least - to do the work of the 1?

[Rayk]

Prime Minister Gen. Prayut Chan-o-cha has instructed relevant agencies to improve business and investment opportunities,

So let it be written, so let it be done.

I couldn't help it.

Slaves

Hebrews born to serve, to the pharaoh

Heed

To his every word, live in fear

Faith

Of the unknown one, the deliverer

Wait

Something must be done, four hundred years

So let it be written

So let it be done

I'm sent here by the chosen one

So let it be written

So let it be done

To kill the first born pharaoh son

I'm creeping death

Now

Let my people go, land of goshen

Go

I will be with thee, bush of fire

Blood

Running red and strong, down the Nile

Plague

Darkness three days long, hail to fire

So let it be written

So let it be done

I'm sent here by the chosen one

So let it be written

So let it be done

To kill the first born pharaoh son

I'm creeping death

Die by my hand

I creep across the land

Killing first born man

Die by my hand

I creep across the land

Killing first born man

I

Rule the midnight air, the destroyer

Born

I shall soon be there, deadly mass

I

Creep the steps and floor, final darkness

Blood

Lamb's blood, painted door, I shall pass

So let it be written

So let it be done

I'm sent here by the chosen one

So let it be written

So let it be done

To kill the first born pharaoh son

I'm creeping death

[Roota]

One only has to look at Vietnam to see how they have lured foreign investments to their country.

Right, and look at Vietnam's position on this ranking . . . #90, whoops!

I'm pleasantly surprised that Thailand ranks as high up this list -- in the top third -- as it does. And even more surprised that Malaysia comes in at #18.

[HiSoLowSoNoSo]

49th!!! Did they bribe someone to get that high on the rankings?

[ZeldasCavern]

As a retired business owner, I can say categorically, that unless I can own 100% of my business and have full control of it, and NEVER have to worry about dealing with crooked corrupt officials and police, then I would NEVER consider opening a business here.

15 years ago I did consider it. But once I started really looking around and talking to expats who work here, I very quickly realized what a rotten corrupt system this country has. It has only gotten worse since then.

Similarly considered as mentioned above.

Contacted attorneys, BOI, only realizing being out for a "spin". Never strait concise verifiable answers. Always vague unclear possibilities.

Contradicting suggestions even from authorities as well as attorneys.

Even having US Option - Advised on opening conventional 49/51 partnerships where 100% is my money, listing Thai attorneys in the business, at a minimum 4 Thai's, local or not, who don't even have to show up as long as they get their taxes and SS paid who may also quite possibly later file employment grievances.

Automatic high min Accountant fee's as well as additional visiting individuals...whether there is income or not?...

I'm not even scratching the outer shell yet... Bottom line - full exposure with major risk, little reward possibilities...

One only needs to read on the various disgusting stories of such ventures online and in the forums, see the rotating doors for rent signs of past endeavors, failures, and disappointments on vanished dreams.

One of my friends learned the hard way 5 mil Bht, another 6 mil bht, both left back to their respective countries only to lick their wounds and get back on solid ground. A third lost a few mil as well but still here looking and thinking of other possibilities...

Truly sad, because most who come and want to invest would do this country and citizens well but they're undermined...

[Brer Fox]

It was Mr Prayut and his honchos who changed the incentive rules for foreign investment back in early 2015. That send potential foreign investors scuttling away by the hordes.

Similarly domestic investors are looking toward neighbouring countries where their investments are likely to bring greater rewards and greater security. The Thai Chamber of Commerce has already acknowledged this trend.

[goodheart555]

In every news story about Thailand planning, be it tourism or whatever I always want to ask...How many foreign advisors do they have??????

Because they bloody well need some more.

Edited June 20, 2016 by metisdead
Oversize font reset to normal.

[Thechook]

But but but we are the world's business Hub, foreign investors are killing each other in the rush to invest in the junta. We will let maintain 49% of your business if you supply 100% of the capital and if you don't agree we will slap a defamation charge on you and steal the other 49%.

[trainman34014]

Thaitanic sails on blissfully unaware of the perils in wait. Never mind; we'll just keep moving the deck chairs around and all will be well....because a General has said so !

[Dumbastheycome]

The Rischstiens are unhappy because Thailand is not a willing slut to the World Bank or it's enforcer cousin IMF ?

[Dumbastheycome]

Despite the spin of those who would like to get control of the second biggest economy is Asia, despite the global recession, despite the previous comparative boom in the economies of nearby SEA countries which with one exception are now in massive decline, despite the political upheavals throughout, Thailand has remained economically level and stable while protectionism has decreased and consumer choice has increased.

[selftaopath]

As a retired business owner, I can say categorically, that unless I can own 100% of my business and have full control of it, and NEVER have to worry about dealing with crooked corrupt officials and police, then I would NEVER consider opening a business here.

15 years ago I did consider it. But once I started really looking around and talking to expats who work here, I very quickly realized what a rotten corrupt system this country has. It has only gotten worse since then.

Similarly considered as mentioned above.

Contacted attorneys, BOI, only realizing being out for a "spin". Never strait concise verifiable answers. Always vague unclear possibilities.

Contradicting suggestions even from authorities as well as attorneys.

Even having US Option - Advised on opening conventional 49/51 partnerships where 100% is my money, listing Thai attorneys in the business, at a minimum 4 Thai's, local or not, who don't even have to show up as long as they get their taxes and SS paid who may also quite possibly later file employment grievances.

Automatic high min Accountant fee's as well as additional visiting individuals...whether there is income or not?...

I'm not even scratching the outer shell yet... Bottom line - full exposure with major risk, little reward possibilities...

One only needs to read on the various disgusting stories of such ventures online and in the forums, see the rotating doors for rent signs of past endeavors, failures, and disappointments on vanished dreams.

One of my friends learned the hard way 5 mil Bht, another 6 mil bht, both left back to their respective countries only to lick their wounds and get back on solid ground. A third lost a few mil as well but still here looking and thinking of other possibilities...

Truly sad, because most who come and want to invest would do this country and citizens well but they're undermined...

My experience also taught me much a/b Thailand. Never again. I hope others take heed to the warnings.

[selftaopath]

But but but we are the world's business Hub, foreign investors are killing each other in the rush to invest in the junta. We will let maintain 49% of your business if you supply 100% of the capital and if you don't agree we will slap a defamation charge on you and steal the other 49%.

More and more I feel much of Thailand seems to think they can "strong arm" everyone/ everywhere and be totally successful. Eventually they will learn how misconceived this notion/action is. More will understand that Thailand is very much ONE WAY.

[selftaopath]

Despite the spin of those who would like to get control of the second biggest economy is Asia, despite the global recession, despite the previous comparative boom in the economies of nearby SEA countries which with one exception are now in massive decline, despite the political upheavals throughout, Thailand has remained economically level and stable while protectionism has decreased and consumer choice has increased.

I would venture to say this is thanks to the women of Thailand willing to do practically anything to earn money - usually to support their children whose fathers have run away. What would tourism look like w/out Thai women?

Protectionism has decreased and consumer choice has increased? Really? Does that imply there is competition and fair trade?

[spidermike007]

Not only is the country falling in the World Bank rankings, but Thailand is moving precipitously toward the #6 spot within ASEAN, behind the Philippines, Malaysia, Vietnam and Burma. They could all be labeled progressive in their policies, compared to the antiquated, and highly protectionist policies of Thailand. There are very, very few areas where Thailand is moving forward, with this clumsy administration, and it's extreme lack of talent and brains. The only area where Thailand is not falling behind on the rankings, is the per capita number of deaths on the road. They firmly hold their #2 ranking, behind only Libya. Congrats.

All of those above mentioned nations are making strides toward opening up their economies, attracting foreign investment, improving public and traffic safety, and building good infrastructure and making themselves more appealing to foreigners, and foreign investors. Granted, some more than others. But, the degree to which Thailand is lagging behind it's neighbors is starting to become a but shocking. Are there any progressive minds in government here?

[Winniedapu]

Thaitanic sails on blissfully unaware of the perils in wait. Never mind; we'll just keep moving the deck chairs around and all will be well....because a General has said so !

Many a true word spoken in jest...

Winnie

[djjamie]

Thaitanic sails on blissfully unaware of the perils in wait. Never mind; we'll just keep moving the deck chairs around and all will be well....because a General has said so !

As it has done so for the last few hundred years that people like you have stated that the perils are imminent.

If not tomorrow, then next tomorrow. If not then then in 2 week. Until as nothing changes we forget your initial comment as we move on with our lives in a country we adopted as our own.

[djjamie]

Remember when Thailand went up in this ranking.

The comment were "This is a fake report" and "One cannot trust this agency as they are agenda driven"

Of course when the ranking goes down, I for one cannot make excuses but have to agree with FACTS, while others agree also. Not because they are facts, but because they now suit their agenda.

[Rancid]

The Rischstiens are unhappy because Thailand is not a willing slut to the World Bank or it's enforcer cousin IMF ?

There is an element of truth to that. You can get things done in Thailand but the bureaucracy tries to punish you every step of the way, interpreting laws in surprising ways. I gave it away years ago.

Things could be simplified, however another comment about being more Chinese friendly may also be correct. They are already comfortable swimming in a similar pool & are generally larger businesses with the bucks to sort out the inevitable obstacles.