World Bank Ranks Thailand at No.21 in the Ease of Doing Business from 190 Countries!

According to the World Bank’s Doing Business (DB) Survey 2020, Thailand is ranked at No. 21 among the 190 participating economies worldwide on the overall assessment of the ease of doing business regulatory environment, moved up from No. 27 in last year’s ranking.

The ranking was determined by sorting the aggregate scores on 10 topics below, each consisting of several indicators. Experts in various areas, governmental agency personnel as well as the World Bank’s regional officers contributed to the survey. The impacts of relevant laws and regulations on local businesses throughout their life cycle were also taken into consideration.

DB states that Thailand made dealing with construction permits easier by introducing legislation requiring phased inspections during construction. Moreover, the most outstanding improvement is the Protecting Minority Investors which measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain as well as shareholder rights, governance safeguards and corporate transparency requirements that reduce the risk of abuse. The ranking in Protecting Minority Investors made a jump from No. 15 last year to No. 3 this year.