Thailand's competitiveness up in 2018

BANGKOK, October 17 (TNA) - Thailand's competitiveness in 2018, based on the Switzerland-based World Economic Forum (WEF) criteria, has increased to the 38th position among worldwide nations that have been latest surveyed. Assoc. Prof. Dr. Pasu Decharin, Dean of the Faculty of Commerce and Accountancy of Bangkok-based Chulalongkorn University, which is the authorized partner of WEF in Thailand, told journalists of the update on Wednesday. Assoc. Prof. Dr. Pasu acknowledged Thailand has gained 67.5 scores on average in the latest survey based on the WEF criteria, comprising of 98 selected indicators in 12 areas that have been designed to more exhibit the global 4.0 industrial revolution. "My Faculty of Commerce and Accountancy has processed in-depth data from questionnaires collected from random respondents who are senior executives of both large-scaled and smaller-scaled firms in all Thai industrial sectors", Assoc. Prof. Dr. Pasu explained. According to the dean, Thailand's new 38th position, with 67.5 scores, ranked by WEF this year is clearly improved from the country's 40th position, with 66.3 scores, ranked earlier in the previous year. The dean stated that Thailand's improved competitiveness has particularly enhanced by the index of the financial system, which was latest ranked at the world's 14th position with 84.19 scores, and by the index of the market size domestically and internationally, which was latest ranked at the 18th position with 74.88 scores, as well as by the index of education and skills, which was latest ranked at the 66th position with 62.99 scores. The dean suggested, however, that the index of domestic competition, which was ranked at the world's 92nd position with 53.4 scores, should be improved for more equal business opportunities for rival firms in Thailand through the revision of laws and regulations to promote and support the further development of innovations. (TNA)