Thai ranking in Ease of Doing Business 2020 up 6 places
Finance Minister Uttama Savanayana announced today (October 24) that Thailand’s ranking in the World Bank’s Ease of Doing Business 2020 list has edged up from 27th to 21st this year, out of 190 countries surveyed.
“Thailand’s scores are 80.10 , up 1.65. This is our highest rank in the past six years, “ he said.
Thailand is close to catching up with Malaysia’s scores of 81.50 and Singapore’s 86.20. Singapore is ranked second and Malaysia 12th in Doing Business 2020, he said.
Thailand has done better in dealing with construction permits by cutting 19 procedures to 14 and waiting times for approval from 118 days to 113 days, up-ranking to 34th place from 67th place previously .
Uttama said the country had also improved in protecting minority investors, pushing up the rank in this category to third place from 15th last year.
However, he admitted that Thailand still has to improve in many areas in order to provide more convenience for running business in the country.
For this year’s index, the World Bank looked at regulations affecting 10 areas in the life of a business, namely: starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.