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Thailand edges up 6 spots in World Bank’s Ease of Doing Business 2020

While many economies in the East Asia and the Pacific region make doing business relatively easy, the pace of reforms has slowed from previous years.

Boris Sullivan

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Thailand’s ranking in the World Bank’s Ease of Doing Business 2020 list has edged up 6 places, from 27th to 21st this year from 190 countries surveyed

The World Bank ranked Singapore second and Malaysia 12th in Doing Business 2020 report. In the ranking, Thailand’s scored increased 1.65 to 80.10, the highest in the past six years.

Thailand has done better in dealing with construction permits by cutting 19 procedures to 14 and waiting times for approval from 118 days to 113 days, climbing the rank to 34th from 67th, said the report.

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.

Uttama added that protecting minority investors had been highlighted by the Thai government, pushing up the rank in this category to third place from 15th last year.

The finance minister however, said Thailand still needs to make progress in many areas to facilitate investments.

While many economies in the East Asia and the Pacific region make doing business relatively easy, the pace of reforms has slowed from previous years.

Reforms were implemented in fewer than half of its economies (12 out of 25). Even so, five East Asia and the Pacific economies are among the top 25 global performers, including Singapore(2nd), Hong Kong SAR, China (3rd); Malaysia (12th); Taiwan, China (15th); and Thailand (21st). China jumped in the ranking to 31st and is among the top 10 improvers for a second consecutive year.

A country’s ease of doing business score is reflected on a scale from 0 to 100, where 0 represents the lowest and 100 represents the best performance.

Thailand saw a significant improvement in ranking in two indicators: dealing with construction permits, which ranked 34th with a score of 77.3, up from 67th with a score of 71.9 in 2019; and protecting minority investors, which ranked 3rd with a score of 86, up from 15th with a score of 86.

Best places to do business

The top 10 best places in the world to do business, according to the study, are New Zealand (with a score of 86.8 out of 100), Singapore (86.2), Hong Kong SAR, China (85.3), Denmark (85.3), the Republic of Korea (84), the United States (84), Georgia (83.7), the United Kingdom (83.5), Norway (82.6), and Sweden (82).

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Thailand’s FDI applications up 69% in the first nine months of 2019

The total value of FDI applications received by the BOI in the nine months to September increased 69% from the year earlier period, to a total value of 203.37 billion baht, according to the latest data from the BOI

Boris Sullivan

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Thailand continued to attract rising foreign direct investment (FDI) in the first nine months of 2019, with increased number of investment project applications according to public agency Thailand Board of Investment (BOI).

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Thai Labour minister calls meeting after U.S. GSP cut

The Minister of Labour has called an urgent meeting to address the labour concerns cited by the U.S. as a factor in the decision to revoke trade preferences.

National News Bureau of Thailand

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BANGKOK (NNT) – The decision by the U.S. to suspend Generalized System of Preferences (GSP) treatment to Thailand, requiring all Thai exports to the U.S. to be subject to duties, has raised confusion among many sectors in Thailand.

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One million people register on first day of Chim-Shop-Chai program

10 million persons will be able to register themselves to receive a 1,000 baht allowance each in the government’s electronic money mobile application

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A total of a million people have registered to join the government’s Chim-Shop-Chai (Taste-Shop-Spend) program, under which each of them will receive a 1,000 baht giveaway to be spent between September 27th and November 30th, on the first day.

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