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Risks of doing business in Thailand published by WEF

Nov 15. 2019
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By The Nation

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The World Economic Forum has released its Regional Risk of Doing Business 2019 report, which names 5 risks of doing business in Thailand, Pimchanok Vonkorpon, the director-general of the Trade Policy and Strategy Office (TPSO) said on Thursday (November 14).

According to the report, the global top 10 risks of doing business in 2019 are: 1. Fiscal crises, 2. Cyberattacks, 3. Unemployment, 4. Energy price shock, 5. Failure of national governance, 6. Profound social instability, 7. Data theft, 8. Interstate conflict, 9. Failure of critical infrastructure and 10. Asset bubble.

Businesses in East Asia and the Pacific face risks on four different aspects, namely environmental, technological, geopolitical, and economic. The top ten risks are listed as: 1. Natural catastrophes, 2. Cyberattacks, 3. Interstate conflict, 4. Fiscal crises, 5. Extreme weather events, 6. Asset bubble, 7. Data theft, 8. Energy price shock, 9. Unemployment and 10. Failure of national governance.

For Thailand, the top five risks are: 1. Asset bubble, 2. Failure of national governance, 3. Cyberattacks, 4. Manmade environmental catastrophes and 5. Profound social instability.

Pimchanok urged related agencies to conduct in-depth studies on the risks of doing business in Thailand in order to gain the confidence of foreign entrepreneurs and also develop guidelines and measures to cope with these risks.

“TPSO will follow up the reports, surveys, rankings and studies of organisations recognised worldwide such as World Bank and World Economic Forum and publicise economic issues which are beneficial to the operations of Thai entrepreneurs,” she said.

“One of the important roles of this office is to provide information and advice for entrepreneurs to create awareness of economic situation in order to promote a proactive strategy that will allow the market to expand to many regions and boost business capability,” she added.

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