The Fraser Institute’s Economic Freedom of the World Index for the year 2566, based on the latest data from 2564, reveals that Thailand is ranked 64th with a score of 7.07.
In the ASEAN region, Thailand secures the 3rd position. Singapore leads the ASEAN rankings at 1st place, followed by Malaysia at 56th place with a score of 7.19, and Thailand at 64th place. The Philippines holds the 70th position with a score of 7.01, while Indonesia is at 74th place with a score of 6.93. Cambodia ranks 78th with a score of 6.82, Vietnam at 106th with a score of 6.26, Laos at 107th with a score of 6.25, and Myanmar at 150th with a score of 5.33.
Singapore maintains its position as the top-ranked country in the world with a score of 8.56, supported by increased scores in the categories of government and regulation. Singapore’s overall score has increased by 0.06 points, solidifying its top ranking.
Singapore has surpassed Hong Kong, which has fallen to the 2nd position with a score of 8.55. Switzerland, New Zealand, and the United States round out the top 3 to 5 positions, respectively.
This marks Hong Kong’s first drop from the 1st place since the inception of the Economic Freedom of the World Index.
According to the Fraser Institute’s website, the Chinese government imposed new and significant barriers to entry, limits on the employment of foreign labor, and increases in the costs of doing business, which drove a 0.25-point decline in Hong Kong’s Area 5 (regulation) component.
Meanwhile, increased military interference in the rule of law and eroding confidence in judicial independence and the impartiality of Hong Kong courts led to a 0.20-point decline in the jurisdiction’s Area 2 (legal system and property rights) component.
At the bottom of the rankings are the following countries: Congo, Algeria, Argentina, Libya, Iran, Yemen, Sudan, Syria, Zimbabwe, and Venezuela, occupying positions 156 to 165. (TNA)