Thailand hopes to improve ranking on ease of doing business

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BANGKOK – Thailand hopes to maintain its position among top 50 economies worldwide in terms of the ease of doing business.

Deputy Prime Minister in charge of economic affairs Somkid Jatusripitak convened a meeting with state officials tasked with finding ways to attract foreign investors and businesses into Thailand. During the past 6 months, Thailand has been utilizing all efforts to make the country more attractive such as reducing business registration procedures, introducing the “E-Payment” system, creating a business database, and cutting unnecessary licensing processes.

He said the Thai government will host activities throughout the month of May, informing foreign investors of the improved business procedures and the recently-revised regulations aimed at actively facilitating their business opportunities.

Meanwhile, Minister for Finance Apisak Tantivorawong said he was confident that Thailand will remain among top 50 economies in the world on the ease of doing business, but hoped that the World Bank will put Thailand in a better ranking. Thailand was ranked 49 among 189 countries in 2015.