Author Topic: Thailand slips one place in World Bank’s top 20 countries to do Business  (Read 889 times)

Offline thaiga

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Thailand was listed by the World Bank among the world's top 20 countries to do businesses.

Although the ranking of Thailand this year will drop one place to 18th from 17th in 2012,  the country remained the most favourable place for doing businesses in ASEAN, after Singapore and Malaysia.

Thailand was ranked 6th in Asia and 3rd in ASEAN in terms of being the most convenient place to do business.

Malaysia improved significantly  from last year’s 18th place to 6th place this year.

Singapore remains the world’s best place to do business coming on top of the list of 189 countries for the seventh consecutive year.

The ease with which companies can start and run their businesses correlates with countries’ regulations and protection of property rights, according to the World Bank’s Doing Business 2013 report.

In 2013 like in 2012, Singapore ranks first for the ease of doing business and New Zealand tops the chart for starting a business. Many sub-Saharan African countries and Venezuela are at the bottom of the ranking.

The World Bank based the rankings on several indicators such as operating procedures, business convenience, overheads, laws and regulations, and the overall obstacles of running a business.

Singapore topped the list, followed by Hong Kong, New Zealand, and the United States. Canada and Mauritius were listed 19th and 20th respectively, just a notch below Thailand.

The Doing Business 2013 report, published in October 2012 (the tenth in a series of annual reports), ranks countries on 11 indicators: The indicators include;

• Starting a business (procedures, time, cost and paid-in minimum capital to open a new business)
• Employing workers (rigidity of employment index, redundancy costs)
• Enforcing contracts (procedures, time and cost to resolve a commercial dispute)
• Resolving Insolvency (the time, cost and outcome of insolvency proceedings involving domestic entities)
• Getting credit (strength of legal rights index, depth of credit information index)
• Registering property (procedures, time and cost to transfer commercial real estate)
• Protecting investors (strength of investor protection index: extent of disclosure index, extent of director liability index and ease of shareholder suits index)

• Paying taxes (number of tax payments, time to prepare and file tax returns and to pay taxes, total taxes as a share of profit before all taxes borne)
• Trading across borders (documents, time and cost to export and import)
• Dealing with construction permits (procedures, time and cost to obtain construction permits, inspections and utility connections)

• Getting Electricity (applications and contracts with electricity utilities, all necessary inspections and clearances from the utility and other agencies until the external and final connection works).
For a complete discussion of the methodology of the Doing Business report.
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Offline pop401k

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So, Lithuania has taken the #17 spot, previously held by Thailand...interesting.