In the report, Thailand is ranked first among 80 countries worldwide to start a business because of less time consumed in business registration, which has also helped entrepreneurs in lowering expenses. The report, published on the website usnews.com, was compiled from a survey conducted among 21,000 respondents worldwide.
According to the U.S. News and World Report, Thailand is also ranked eighth among 25 countries worldwide on the "Best Countries to Invest In” category. Moreover, it has been awarded the No. 5 best country for studying abroad and the No. 9 best country to travel alone in. Thailand’s overall ranking is 27 out of a total of 80 countries.
The Prime Minister said that the report corresponds with the World Bank’s 2018 Ease of Doing Business report stating that Thailand ranks 26th among 190 economies around the world in the ease of doing business for small and medium enterprises. Thailand has moved up 20 places, as it placed 46th in the 2017 Ease of Doing Business report.
The World Bank report also recognizes Thailand as one of the top 10 economies that have improved most in the ease of doing business. Thailand is continuing systematic reforms to strengthen the business environment further, as well.
According to the World Bank, the improvement was attributed to time-saving, as business operators would now spend only two days, rather than 25.5 days before, in seeking a business license in Thailand. Their expenses would be only about 5,800 baht, instead of the 6,600 baht they spent before.
Both reports indicate that foreign investors are confident in Thailand’s business and investment situation. The Prime Minister said that Thailand has many strengths and that Thai people should join hands in developing them.
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