Thailand moves up 20 ranks to 26th on World Bank’s Ease of Doing Business 2018
Thailand’s ranking on World Bank’s Ease of Doing Business 2018 moved up to 26th from the 46th last year from 190 countries worldwide. This brought Thailand to the top three in ASEAN. According to World Bank’s Ease of Doing Business 2018, Thailand made significant improvement in six areas, including starting a new business, getting electricity, getting credit, protection of minor investors, tax payment and enforcing contracts. Ms. Duangjai Asawachintachit, Secretary General of the Board of Investment welcomed this report. “Thailand has implemented many measures and projects to improve business environment, including amendment of related laws and introduction of e-Services. This latest survey results have clearly reflected Thailand’s continuous efforts in making Thailand one of the most preferred destination in Asia.” Being right in the heart of Southeast Asia, Thailand has long been a major destination for foreign direct investment and a regional production hub for many products such as automobiles, food and electronics.