WB ranks Thailand among world top 50 in doing business

BANGKOK, October 26 (TNA) - The US-based World Bank has raised Thailand's ranking in business facilitations in its report on Doing Business 2017 to the 46th place, from its latest survey on 190 economies worldwide. World Bank Country Director for Southeast Asia Ulrich Zachau told journalists on Wednesday that Thailand's 46th ranking in the World Bank's Doing Business 2017 report is up by three places, from the 49th rank in last year's report, and the third rank among member countries of the Association of Southeast Asian Nations (ASEAN), after Singapore and Malaysia, whose rankings on the global list are at the 2nd and the 23rd positions respectively. Zachau said Thailand has gained a total score of 72.53 with five better areas, including business start-ups from last year's 96th place to 78th position, loans from the 97th place to the 82nd position, investors' protection from the 36th to the 27th ranking, contract regulations from the 57th place to the 51st ranking and solution to bankruptcy from the 49th position to the 23rd place. Ulrich pointed out that Thailand's higher business competitiveness is due to continual national reforms to improve the domestic business environment. Besides, investment by the public sector in basic infrastructure development projects, skilled labour development through quality education and the promotion of new innovations have helped Thai people to have better jobs. Meanwhile, world top five economies ranked in the World Bank's Doing Business 2017 report include New Zealand, Singapore, Denmark, Hong Kong and South Korea respectively, while Indonesia and Brunei Darussalam have been ranked top two in terms of most national reforms. (TNA)