Thailand expects better World Bank’s ranking

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NONTHABURI, May 16 (TNA) -- The Department of Business Development discussed business facilitation with the World Bank and expected Thailand’s better position in World Bank’s Doing Business rankings next year.

Kulanee Isdisai, director-general of the department, said the discussion with a World Bank research team happened yesterday (May 15) and covered business registration and access to finance which were two of indicators for the rankings.

Officials of the department explained details on its improved work to minimise duration for both activities and answered all questions from the World Bank’s research team.

Thailand ranks 26th in the World Bank’s Doing Business 2018, up from the 46th position last year.

Ms Kulanee said her department had followed recommendations from the World Bank. It reduced procedures for business registration, imposed a flat-rate fee for business registration, reduced the fee for electronic-registration of new businesses by 30%, and introduced online registration on value-added taxation and employees.

Its improvement cut the duration of business registration from 4.5 days to 2 days, she said.

Besides, the department linked its business security database with other government agencies and streamlined procedures for business security registration which could be completed in five minutes.

“The department expects that Thailand can be among the first 20 positions in the World Bank’s Doing Business rankings in 2019,” Ms Kulanee said. (TNA)