BANGKOK: Thailand could crack the top 20 of the World Bank’s Ease of Doing Business ranking for 2019 after it managed to jump to 26th-most business-friendly nation in the 2018 ranking, says Prime Minister Office Minister Kobsak Pootrakool.
Thailand’s scores in the World Bank’s ranking were weak in some areas, such as dealing with construction permits, registering property, trading across borders and handling insolvency. The government hopes to improve these areas to move up in the ranking, he said.
The World Bank’s site visit to Thailand has been slated for the mid-year and the evaluation announcement will be made in October.
Thailand was the second-most improved country in the 2018 rankings, climbing to 26th place among 190 economies from 48th in 2017 and 49th in 2016.
Several recent improvements in the ease of doing business included abolishing a requirement to obtain a company’s seal and eliminating the need for approval of a firm’s employment regulations from the the Labour Department.
