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April 25, 2018

Thailand Continues to Improve Investment-Friendly Environment

The Government has continued to improve the investment-friendly environment in accordance with the “Thailand 4.0” policy, in order to maintain the country’s position as one of the most preferred investment destinations.

Prime Minister General Prayut Chan-o-cha stated that the U.S. News and World Report had ranked Thailand in eighth place among the top 20 countries best for investment. The report on “Best Countries to Invest In” surveyed over 21,000 people worldwide about 80 different countries.

Several factors were considered for the 2018 ranking, such as entrepreneurship, economic stability, favorable tax environment, innovation, skilled labor, technological expertise, dynamism, and corruption.

The Prime Minister was satisfied with Thailand’s ranking, as it indicated that Thailand has gained greater recognition in the international community. He urged all sectors to help maintain the favorable atmosphere in order to attract investors from all over the world.

The Prime Minister was also pleased to learn that other ASEAN partners, namely the Philippines, Indonesia, Malaysia, and Singapore, were also among the top 20 best countries to invest in. This shows that ASEAN has become more attractive to foreign investors.

He said that, earlier this year, the U.S. News and World Report 2018 stated that Thailand has been ranked the best country in the world to start a business, for the second consecutive year. The report corresponds with the World Bank’s 2018 Ease of Doing Business report stating that Thailand ranks 26th among 190 economies around the world in the ease of doing business. Thailand has moved up 20 places, as it placed 46th in the 2017 Ease of Doing Business report.

Secretary General of the Board of Investment Duangjai Asawachintachit said that Thailand has implemented many measures and projects to improve the business environment, including amendments of related laws and introduction of e-services.

Being right in the heart of Southeast Asia, Thailand has long been a major destination for foreign direct investment and a regional production hub for many products, such as automobiles, food, and electronics.

 


Source: Foreign Office, The Government Public Relations Department

http://thailand.prd.go.th/ewt_news.php?nid=6505&filename=index

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