Connect with us
Welcome to Long An

Business

Thailand ranks 10th most competitive economy in Asia-Pacific

Thailand’s competitiveness ranking fell to 32nd in the World Economic Forum’s 2015-16 index, and is only 10th among other economies in Asia-Pacific.

Olivier Languepin

Published

on

Thailand’s competitiveness ranking fell to 32nd in the World Economic Forum’s 2015-16 index, and is only 10th among other economies in Asia-Pacific.

The most competitive economies in the Asia-Pacific region are holding steady in this year’s Global Competitiveness Index: five of the region’s top ten occupy exactly the same position as in last year’s overall Index, while two have dropped a single place and three have moved forwards.

It is worth noting that among Asean countries only Thailand (-1) and Indonesia (-3) are moving down the scale. Vietnam, probably Thailand’s main competitor for FDI, is moving up 12 ranks in 2015.

In the lower reaches of the overall Index, too, more of the region’s economies are advancing than regressing – there are year-on-year advances for Lao PDR (83rd of the 140 economies analysed), Cambodia (90th), Nepal (100th), Bangladesh (107th) and Myanmar (131st), with only Mongolia (104th) and Bhutan (105th) regressing.

asia-pacific-top-10

South Asia still generally lags behind South East Asia, but Narendra Modi’s election has seen India leap forward a remarkable 16 places to 55th overall.

Among emerging and developing Asian economies, the competitiveness trends are mostly positive, despite the many challenges and profound intra-regional disparities. While China and most of the South-East Asian countries performing well, the South Asian countries and Mongolia (104th) continue to lag behind.

The five largest members of the Association of Southeast Asian Nations (ASEAN) – Malaysia (18th, up two), Thailand (32nd, down one), Indonesia (37th, down three), the Philippines (47th, up five) and Vietnam (56th, up 12) – all rank in the top half of the overall GCI rankings.

Having jumped six places in the last Index, Thailand drops a place to 32nd overall this year. It has improved in the last year on technological readiness, innovation and business sophistication but slipped on the macroeconomic environment pillar, reflecting a lower credit rating and worsening government budget balance.

Unsurprisingly, following the May 2014 coup, government instability tops the list of executives’ concerns – followed closely by three other institutional factors (corruption, government bureaucracy and policy instability), reflecting the country’s relatively low ranking on the institutions pillar.

Singapore. For the fifth year in a row, Singapore is both the top Asia-Pacific nation and second only to Switzerland in the overall rankings. With a consistently good performance – it ranks in the top two in seven out of the 12 pillars – the country’s strengths include the efficiency of its goods, labour, and financial markets, and its globally top-ranked higher education and training system.

wef2015

The Global Competitiveness Report 2015-2016 is available here

Advertisement
Comments

Banking

Governments most exposed to coronavirus have strong fiscal and external buffers

Moody’s baseline assumption is that the economic effects of the outbreak will continue for a number of weeks, after which they will tail off and normal economic activity will resume.

Boris Sullivan

Published

on

As measures to contain the coronavirus and fear of contagion hit consumption and production, downside risks to our GDP growth forecast for China (A1 stable) have increased., says Moody’s Research Announcement.

(more…)

Continue Reading

Banking

Bank cuts Thai 2020 GDP growth outlook to 2.7%

SCB’s Economic Intelligence Center (EIC) has released its latest growth forecast, at 2.7 percent, showing a slow recovery from just 2.5 percent economic growth in 2019

Boris Sullivan

Published

on

SCB cuts GDP growth forecast to 3.1%

SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy.

(more…)

Continue Reading

Business

BOI steps up investment promotion measures in the EEC

The measures will be in effect from January 2, 2020, to December 2021. Applicants can sign up for the new privileges, with no deadline set for registration.

National News Bureau of Thailand

Published

on

BANGKOK(NNT) – The Board of Investment of Thailand (BOI) has approved measures to promote investment in the Eastern Economic Corridor (EEC) by expanding the number of target industries and increasing corporate income tax benefits.

(more…)

Continue Reading

Must Read

Upcoming Events

Apr 06

26th World Cardiology Conference – Bangkok

April 6 @ 8:00 am - April 7 @ 5:00 pm BMT
Apr 08

Global Public Health 2020

April 8 @ 8:00 am - April 9 @ 5:00 pm BMT
Apr 13
Apr 17

2nd International Conference on Nanomedicine and Nanotechnology

April 17 @ 9:00 am - April 18 @ 5:00 pm BMT
Aug 21

16th International Expo on Recycling and Waste Management

August 21 @ 8:00 am - August 22 @ 5:00 pm BMT

Press Release

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 12,265 other subscribers

Trending