Thailand’s ranking has slipped for the third time this year, according to the World Bank and ranks 18th in the Doing Business 2013 survey down from 17th in the 2012 rankings, and 16th in the 2011 report.

Thailand ranked 85th for starting a business, a slide from 78th in 2012, but its ranking for ease of paying taxes improved to 96th from 100th a year ago.

Globally, Singapore tops the global ranking on the ease of doing business for the seventh consecutive year. Joining it on the list of the 10 economies with the most business-friendly regulation are Hong Kong SAR, China; New Zealand; the United States; Denmark; Norway; the United Kingdom; the Republic of Korea; Georgia; and Australia

doingbusinessthailand2012

The World Bank praised the kingdom for reducing the corporate profit tax and showed positive outlook for Thailand in attracting investors.

What does it take to start a business in Thailand? According to data collected by Doing Business, starting a business there requires 4 procedures, takes 29 days, costs 6.7% of income per capita and requires paid-in minimum capital of 0.0% of income per capita

Thailand Overview

RegionEast Asia & Pacific
Income CategoryUpper middle income
Population69,518,555
GNI Per Capita (US$)4,420
Doing Business 2013 RankDoing Business 2012 RankChange in Rank
1817down -1
Topic RankingsDB 2013 RankDB 2012 RankChange in Rank
Starting a Business8579up -6
Dealing with Construction Permits1613up -3
Getting Electricity109up -1
Registering Property2627up 1
Getting Credit7067up -3
Protecting Investors1313No change
Paying Taxes9692up -4
Trading Across Borders2020No change
Enforcing Contracts2326up 3
Resolving Insolvency5852up -6

Read Thailand profile on doingbusiness.org http://www.doingbusiness.org/data/exploreeconomies/thailand

Smarter Regulations for Small and Medium-Size Enterprises ranks Sri Lanka among the 10 economies globally that improved the most in the past year across three or more areas measured by the report. It marks the first time since 2005 that a South Asian economy has ranked so high. Sri Lanka launched a host of computerized systems that made it easier to open a business, register property, and export products through customs.

It also strengthened its secured transactions system by establishing an electronic—and easily searchable—collateral registry. The report shows that Bangladesh and India also improved business regulations in the past year as measured by Doing Business. India made dealing with construction permits easier for firms by establishing strict time limits for preconstruction approvals. Bangladesh improved access to credit information by establishing an online platform for sharing such information.

India stands out in the region as an economy that has consistently improved since 2005,  said Augusto Lopez-Claros, Director, Global Indicators and Analysis, World Bank Group. After establishing its first credit bureau in 2004, India focused mostly on simplifying and reducing the cost of regulatory processes in key areas such as starting a business, paying taxes, and trading across borders.

About the author

Leave a Reply

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

The Bank of Thailand Bond Issuance Programme for 2022

For 2022, the BOT bond issuance programme continues to take into account the increased financing needs of the government to fund Covid-19 relief measures

This is what global tax reforms could mean for Asia’s tech giants

A new set of agreed global tax reforms will change where tech giants and other global giants pay taxes, explain experts from the IMF. Investment hubs such as Singapore and Hong Kong SAR could lose up to 0.15% of GDP as a result.

The Impact of Covid-19 on MSMEs in Southeast Asia

“Barely Staying Afloat: The Impact of Covid-19 on MSMEs in Southeast Asia” is the result of collected data in six countries on the impact those lockdowns in multiple sectors, including tourism, agriculture, manufacturing, and services.