Connect with us

News

Where’s the best place to do business in Asia? (It’s not Thailand)

Published

 on 

Thaiger deals Thaiger deals

Singapore, closely followed by South Korea, remains the best country in which to run a business, according to the World Bank.  While Brunei, Thailand and India have registered the most notable improvement in the ease of doing business. Pakistan, Myanmar and Bangladesh are the region’s lowest ranked economies.

In the World Bank’s Ease of Doing Business list, Singapore has been ranked as the second best country in the world in this year’s ease of doing business. It has consequently also proven to be the best country in Asia . It is followed by South Korea as the second best economy to do business in Asia.

Hong Kong, Taiwan, Malaysia and Thailand are the other countries in Asia which have been ranked high in the ease of doing business report. While Hong Kong has scored the fifth rank in the report, Taiwan and Malaysia have been ranked 15th and 24th respectively.

Thailand has been ranked 26th overall, and has registered strong improvement in the ease of doing business. The World Bank report, covering the period from June 2 last year to June 1 this year, tracks indicator areas such as the ease of starting a business, connecting to power grids, contract enforcement, taxes and bankruptcy proceedings.

Where's the best place to do business in Asia? (It's not Thailand) | News by Thaiger

The third largest economy in the world, Japan, has been ranked 34th, while Brunei and Mongolia have both been ranked 56th and 62nd. Importantly Brunei has been named the most improved economy in the world for the third year in a row.
China trails countries like Bhutan, Indonesia and Vietnam all of whom have been placed ahead of it in the ease of doing business report. The country has been placed at the 78th position in the report, same as last year.

South Asian neighbours India, Nepal and Sri Lanka have grabbed the 100th, 105th and 111th spot in the rankings. India moved up 30 positions in the ease of doing business rankings report as compared to last year, mostly driven by reforms in access to credit, power supplies and protection of minority investors. However, the World Bank report noted that India lags in areas such as “starting a business”, “enforcing contracts” and “dealing with construction permits.”

Where's the best place to do business in Asia? (It's not Thailand) | News by Thaiger

Bangladesh, Pakistan and Myanmar are the lowest ranked Asian countries in the ease of doing business report.  Bangladesh has been ranked the lowest at 177, while Pakistan has been ranked 147th. Myanmar, which recently opened up its economy to the world, has been ranked 171th overall.

SOURCE: Asia News Network, New Delhi

PHOTOS: NationMultimedia.com

 

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

Click to comment

You must be logged in to post a comment Login

Leave a Reply

The Thaiger is Thailand's largest online portal for news, videos and information.

Follow Thaiger by email:

Thailand10 hours ago

Woman goes bananas after children steal her fruit and sues them for 24,000 baht

China10 hours ago

China says Covid has weakened as it announces loosening of strict policies

Thailand10 hours ago

Dog carries baby’s corpse out of a forest in eastern Thailand

Sponsored2 days ago

Top 5 Backlink Agencies in Bangkok for Your Business

Events11 hours ago

Travis Scott to headline Rolling Loud Thailand festival

Thailand11 hours ago

9 year old boy rescued after falling into 2-metre deep well

Thailand11 hours ago

Thailand News Today | Sexy Thai model exposed as an identity thief and transwoman

Join the conversation on the Thaiger Talk forums today!
South11 hours ago

Whale washes up on beach in South Thailand

Transport12 hours ago

Last jumbo – the last Boeing 747 leaves the gate

Weather12 hours ago

Bangkok could hit lows of 18°C next week

Thailand12 hours ago

Geminids meteor shower predicted to hit Thailand on December 14 

Crime12 hours ago

Kuwaiti overstayer busted in Koh Pha Ngan, Thailand

Thailand12 hours ago

What next for Bali as Indonesia bans sex?

Thailand13 hours ago

Jailed politician erects billboard to wish voters Happy New Year

Thailand13 hours ago

Beastly reptile crocs the world of small village in southern Thailand

Pattaya13 hours ago

Pattaya officials continue to struggle with homeless problem

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending