Thailand's rank improved for its competitiveness

BANGKOK, June 2 (TNA) -- The International Institute for Management Development (IMD) of Switzerland moves the ranking of Thailand’s competiveness higher from 28th to 27th last year after it improved laws, solved business obstacles and announced to develop its Eastern Economic Corridor project. Tevin Vongvanich, chairman of Thailand Management Association (TMA)'s Center for Competitiveness, said the rankings covered 63 countries and Thailand’s ranking improved for two consecutive years. Like in the previous year the first place was Hong Kong, followed by Switzerland. Singapore overtook the United States to be in the third place and the latter became the fourth, he said. Among ASEAN members, Singapore was on the top, followed by Malaysia and Thailand. The positions remained the same with those in 2015. Mr Tevin said the government and the private sector in Thailand successfully joined forces to enhance the national competitiveness. IMD based its rankings on economic performance, government efficiency, business efficiency and infrastructure, he said. Thailand scored 80.095 points which was above the average points of all countries, he said. Pattama Teanravisitsagool, deputy sectary-general of the National Economic and Social Development Board, said the better ranking reflected improvement in the country’s macro-economy, conveniences for business startups, and technological infrastructure. (TNA)