ASEAN KEY DESTINATIONS
Thailand drops 2 places in competitiveness
The report said: “Thailand, at 38th position, has fallen 2 places this year and 10 ranks since 2006. The assessment of public institutions continues to deteriorate (70th) after a drop of 30 places over the past four years, likely related to recent problems of social unrest and political instability in the country.
However, Thailand continues to benefit from its relatively large domestic and export markets (23rd), its excellent transport infrastructure (23rd), the efficiency of its labor market (24th), and a relatively well functioning goods market (ranked 41st).
In addition, the country’s business environment is relatively sophisticated with developed clusters (34th) and companies operating across the value chain. Going forward, in addition to urgently improving its institutional framework, the country needs to step up its efforts to improve its health and educational systems and encourage wider adoption of new technologies for productivity enhancements.
Such efforts will then buttress the country’s innovation potential, which will become increasingly important as it moves toward the most advanced stage of economic development.”
In Asean, Singapore remained the only economy in the top tier, tier 3. In stage 2 were: Malaysia (21), Brunei (28) and Thailand (38); in transition to tier 2 is Indonesia: in tier 1 were Cambodia Vietnam and Philippines. Laos and Myanmar are not included in the ratings due to the closed nature of their economies.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below