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Thailand slipped to 18th in World Bank Business rating

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.

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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

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

Region East Asia & Pacific
Income Category Upper middle income
Population 69,518,555
GNI Per Capita (US$) 4,420
Doing Business 2013 Rank Doing Business 2012 Rank Change in Rank
18 17 down -1
Topic Rankings DB 2013 Rank DB 2012 Rank Change in Rank
Starting a Business 85 79 up -6
Dealing with Construction Permits 16 13 up -3
Getting Electricity 10 9 up -1
Registering Property 26 27 up 1
Getting Credit 70 67 up -3
Protecting Investors 13 13 No change
Paying Taxes 96 92 up -4
Trading Across Borders 20 20 No change
Enforcing Contracts 23 26 up 3
Resolving Insolvency 58 52 up -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.

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