Deputy PM expects Thailand to be ranked 30th in World Bank’s Doing Business

BANGKOK, Nov 6 (TNA) – The Thai government expects Thailand to be ranked in the top 30 destinations for ease of doing business by the World Bank Group in 2017, according to Deputy Prime Minister Somkid Jatusripitak. Thailand ranked 46th from a total of 190 countries in the latest World Bank’s Doing Business 2017 report, up three spots from last year. Mr Somkid, who presided over a meeting with the Doing Business committee, and relevant agencies from both public and private sectors, said Thailand has shown a significant improvement in facilitating the ease of doing business, but some minor problems remain and need to be fixed to improve its position in the next World Bank’s ranking. He urged to improve construction permission processes, business startup, international trade, application for electricity connection, investor protection, solutions to bankruptcy, asset registration, tax payment and lending processes. Mr Somkid believed that Thailand will become one of the 30 best countries for starting and running businesses in 2017 if all of the mentioned obstacles have been addressed. The World Bank is set to release the next Doing Business report in late 2017. (TNA)