The government has made improving the business environment in Thailand a key policy by setting a goal to raise the ranking of the ease of doing business to be among the top 20 countries in the world.

Thailand has made some very impressive gains in recent years in the World Bank’s Ease of Doing Business index, moving from 46th to 26th to 21st position in recent years.

But by implementing 10 measures, the Foreign Chambers Alliance (FCA) predicts Thailand could quickly move into the top 10 of the World Bank index.

Five ambassadors have recently urged to open up Thailand to foreign skilled labour and cut red tape on foreign investment to allow Thailand to move into the top 10 of the World’s Bank’s ease of doing business index.

Thailand is in the process of responding to the World Bank’s advice and the “Ten for Ten” proposal by five ambassadors to Thailand, according to Deputy Prime Minister and Minister of Energy Supattanapong Punmeechaow.

Thailand is ready for Ease of Doing Business Reforms. Thai government has prepared infrastructure for the past 5 years, including the Eastern Economic Corridor (EEC), transportation and technology infrastructure

Deputy Prime Minister and Minister of Energy Supattanapong Punmeechaow.

Ten steps for Thailand to crack the Top Ten in the World Bank’s Global Ease of Doing Business Index are as follows: Simplify and Digitize Cross-Border Clearance, Simple and Smart Licensing, Increase Availability of E-Government, Simplify BOI Applications, Account-Based Customs Processing, Pivot to Digital Commerce, Simplify Access for Skilled Labor, Prioritize Transparency, Improve Bankruptcy Processes and Increase Digitization of Health Thai FDA Approvals.

The Office of the Public Sector Development Commission (OPDC), responsible for driving and monitoring the ease of doing business related reforms and strengthening the competitive environment, is hosting a briefing session on “Status and Progress of Thailand’s Ease of Doing Business Reforms.” Deputy Prime Minister Wissanu Krea-ngam and Deputy Prime Minister Supattanapong Punmeechaow participated in the event.

About the author

Bangkok Correspondent at Siam News Network

Bangkok Correspondent for Siam News Network. Editor at Thailand Business News

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

Bangkok Moves Up to 6th in Global Ranking of Convention Cities

The top 10 convention cities for 2021 are Paris, New York, Singapore, Beijing, Tokyo, Bangkok, London, Barcelona, Istanbul, and Washington. In Asia-Pacific, the top 10 are Singapore,

SET market report for March 2022

SET Index in the first quarter of 2022 was driven by industry groups which benefit from the country reopening, as such Services, Technology and Resources industry groups rose at a faster pace than the SET Index at end-2021.