Hopes on Thailand improvement in World Bank’s Doing Business report

BANGKOK, Nov 7 (TNA) -- Thailand ‘s Department of Business Development has acknowledged and accepted the World Bank’s Doing Business 2016 report and hopes that the country would fare better in 2017, said Pongpan Jiarawiriyapan, director-general of the department. The World Bank in its annual Doing Business 2016 report issued recently saw Thailand slipped three places from the bank’s 2014 survey to 49th out of 189 countries surveyed with Singapore, a member of ASEAN, retained the world’s top ranking for the 10th consecutive year. In its ‘Starting a Business’ category, Thailand’s position also fell to 96th from 91st previously. Admitting that she was disappointed that Thailand was placed 96th in the ‘Starting a Business’ category, Ms Pongpan said her department had improved several business procedures for businessmen in the past including for enterprises which employ more than 10 persons by asking the Ministry of Labour’s Department of Labour Protection and Welfare to set up a ‘Single Point’ service counter which would enable business registration to complete within 80 minutes in 2017. The World Bank’s report would affect foreign investors’ confidence on Thailand, Ms Pongpan said, adding that she had on August 14 invited officials of the Department of Labour Protection and Welfare who had given information to the World Bank to better understand the current official procedures on establishing a business in the kingdom. The latest annual report conducted by the World Bank completed in June, before the clarification was made. It is hoped that Thailand would improve in the World Bank 2017 report after the bank is informed on the current doing business in the kingdom. (TNA)