BANGKOK (NNT) -The Thai government has enhanced its capabilities to attract foreign investment and facilitate the ease of doing business in Thailand. The World Bank’s "Ease of Doing Business 2020" report has ranked Thailand in 21st position, moving up six places from last year.
Thailand’s Finance Minister, Uttama Savanayana, said Thailand has moved up six places among the 190 countries in the World Bank’s "Ease of Doing Business 2020" report.
Mr. Uttama said Thailand’s score was 80.1, up 1.65. This is the country’s highest ranking in the past six years and the third highest in ASEAN. Singapore is ranked second, with a score of 86.2. Malaysia is ranked 12th, with a score or 81.5.
The Ease of Doing Business ranking measures 10 areas of business regulation. In the category of dealing with construction permits, Thailand has moved up from 67th position to 34th, with a score of 77.3. Thailand has also improved in the protection of minority investors, pushing up to third place from 15th last year.
The Finance Minister said Thailand has utilized digital technology to facilitate business registration processes and adjusted regulations according to changes in the environment. However, it is still necessary for Thailand to enhance its business environment further and support competition to attract more investors and raise the country’s competitiveness in the long term.