BANGKOK, Nov 1 (TNA) – Thailand is ranked the 27th place globally in the Ease of Doing Business report 2019, released by the World Bank.
The World Bank report ranks 190 economies based on how easy it is to do business there.
The rankings take into account a number of factors, including trading regulations and investment laws.
Secretary-General of the Public Sector Development Commission, Pakorn Nilprapunt said Thailand is ranked 27th, down from the 26th place in the previous ranking.
However, it scored 78.45 in the latest report, 1.06 higher than last year’s score of 77.39, resulting from four factors that make it easier to start a business, to get electricity, to pay taxes and to trade across borders.
The report said that Thailand simplified preregistration and registration formalities for the start of a business and streamlined approval process for electricity.
The country enhanced electronic systems to facilitate paying taxes and improved electronic submission and processing of documents for exports.
Compared to ASEAN countries, Thailand takes the third place after Singapore and Malaysia, which are ranked the 2nd place and the 15th place respectively.
Pakorn said Thailand will try to develop further and adopt the digital system to cut implicit costs and create transparency, so its ranking will move up next year. (TNA)
