Thailand to continue to facilitate doing business, given big jump in WB's ranking

Bangkok (NNT/VNA) – The Thai Prime Minister said he was satisfied with the latest ranking given by the World Bank for the country's facilitation of doing business. 

Government spokesman Lt Gen Sansern Kaewkamnerd said the premier was satisfied with 2018's ranking for the facilitation of doing business by the World Bank, on which Thailand jumped up 20 ranks from last year to the 26th position from the 46th, ranking at third among the ASEAN community following Singapore and Malaysia. 

Thailand has scored 77.44 this year, compared to 72.53 last year, showing continuous improved facilitation of doing business, including the reduction in time required for the establishing of business, the abolishment of a business stamp otherwise required in stock exchange documents, the use of GIS system, the business guarantee law, the increased rights of individual investors to defend themselves in lawsuits, a clearer distinction between business owner and management, tax audit using computer risk-assessment program, the reduction in property transfer tax, the introduction of an electronic platform for court fees payment, and the handling of bankruptcy problems. 

He said the country's promotion resulted from cooperation between all sides, leading to changes of government agencies' working formulas which have been more active in communicating with the private sector, while the government is improving the facilitation of doing business domestically and internationally for optimum efficiency. 

He said the government has several plans to improve its services for business sector, such as fixing the business registration fee, the reduction in the corporate registration fee through an electronic platform, the amendment to the business guarantee law, the expanded electronic payment system of the Social Security Office, and the improvement to the E-Filing tax system.-VNA