BANGKOK, May 29 (TNA) — Thailand takes the 25th position in the World Competitiveness rankings by the World Competitiveness Center, showing its highest rank in a decade.
The center under Switzerland’s International Institute for Management Development has announced the 2019 rankings which covered 63 economies.
Thailand’s position moved upward five steps from the 30th last year for its better economic performance, government efficiency and infrastructure but the country was rated lower in the fourth criterion, business efficiency which dropped by two steps.
Thailand’s economic performance and government efficiency improved by two steps. Foreign investment was much higher while business legislation was up by four steps, said Thosaporn Sirisamphand, secretary-general of the National Economic and Social Development Board.
Wanweera Rachadawong, director of the Thailand Management Association, said Thailand’s 25th position was its best in about 10 years and its performance on scientific infrastructure improved by four steps from last year.
The first position belongs to Singapore that replaces the United States which falls to the third place. Hong Kong ranks the second, Switzerland the fourth and the United Arab Emirates the fifth.
In Southeast Asia, Singapore ranks the first, followed by Malaysia, Thailand, Indonesia and Philippines. (TNA)
