Thailand was voted to be the world’s best place to start business for the second consecutive year, according to the Department of Business Development. 

Wuthikrai Leeviraphan, director-general of the department, said that recently U.S.News & World Report posted its list of “Best Countries to Start a Business 2020” and Thailand ranked first for the second year in a row because it took only six days and five procedures to start a business in the country. 

Last year the same agency also ranked Thailand in the first place. 

“This year the department will further improve services for operators to start business. Time and procedures for the process will be shortened. It will cooperate with other organizations and apply artificial intelligence to serve businesses and people. This is for Thailand to attract more foreign investors,” Mr Wuthikrai said. (TNA)

The 2020 Best Countries to Start a Business ranking draws from the results of a global perceptions-based survey and ranks countries based on scores from nearly 6,000 business decision-makers in a compilation of five country attributes: affordable, bureaucratic, cheap manufacturing costs, connected to the rest of the world, and easy access to capital.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

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.

French oil company TotalEnergies withdraws from Myanmar

TotalEnergies has not been able to meet the expectations of many stakeholders (shareholders, international and Burmese civil society organisations), who are calling to stop the revenues going to the Burmese state through the state-owned company MOGE from the Yadana field production.

Thai Corporate Earnings to continue Recovering in 2022 says Fitch

The earnings of Fitch-rated Thai corporate issuers should continue to improve in 2022, supported by a recovery in economic activity and a gradual reopening of the country from the pandemic