Thailand ranked the world’s 46th best destination for “ease of doing business”

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Thailand was ranked the world’s 46th best destination for ease of doing business, according to the World Bank’s flagship publication ‘Doing Business 2017’.

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The survey by World Bank’s publication was conducted from a total of 190 countries worldwide.

According to the National News Bureau of Thailand, Government spokesman Lt Gen Sansern Kaewkamnerd disclosed that Thailand has moved up from its 49th position last year to 46th globally and ranked third in ASEAN behind Singapore and Malaysia.

This year Thailand scored 72.53, up from 71.65 in 2015.

The WB’s flagship publication indicated that Thailand has apparently improved in terms of starting businesses from 96th to 78th, on acquiring credit from 97th to 82nd, on minority investor protection from 36th to 27th and on solving insolvency from 49th to 23rd, he said.

He went on to say that Prime Minister Gen Prayut Chan-o-cha thanked all the agencies who played a major role in improving the country’s business ranking, marking it as the success of all parties, and noting that the matter still requires further effort.

The prime minister reiterated that the government is extremely committed to improving the efficiency of public service in all respects especially in what the World Bank views as major reforms including business startups, acquiring credit and resolving insolvency.

He said that this ranking is important as it can be linked to other rankings by the IMD and WEF which are also expected to improve, and subsequent improvements will increase foreign investor’s confidence to Thailand.