September 27, 2007
Kingdom is 15th in WB business friendly rankings
Thailand is ranked 15th out of 178 economies for ease of doing business, moving up from 17th last year after adopting the E-Customs system in the export and import sectors, according to the World Bank's "Doing Business 2008" report.
In the list, Thailand ranks fourth in East Asia after Singapore, Hong Kong and Japan.
In the area of "trading across borders", Thailand's ranking improved from 103rd last year to 50th this year.
Dr. Kirida Bhaopichitr, World Bank economist for Thailand, stated that the kingdom moved up in the world's most business-friendly countries rank because many reforms to reduce time, cost and procedures in importing and exporting, in which E-Custom plays a major role, have been implemented.
However, Thailand have fallen to 89th, from 59th last year, in "paying taxes" as the private companies spent more time in this process, from 104 to 264 hours.
The country's rankings in starting a business, top reformers, dealing with licenses, closing a business, and getting credit also dropped even though the indicators under each area are similar to last year's because other countries have promoted themselves in anticipation of better ratings.
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