World Bank ranks Thailand as 15th best place for business

BANGKOK, July 11 (TNA) -- Thailand is now ranked 15th out of 178 countries throughout the world by the World Bank as the most attractive place to conduct business, according to Gianni Zanini, a leading economist of the World Bank.

Mr. Zanini said Thailand's ranking was obtained from the World Bank's world trade indicator for 2008, launched recently and covering globaltrade.

Information obtained from the indicator showed that Thailand stood at 15th place out of 178 countries for doing business. However, there are also obstacles which include too many rules, lack of skilled personnel and poorinfrastructure, especially in areas outside Bangkok.

According to Mr. Zanini, Thailand's trade and service growth in 2007earned 7.8 per cent and was ranked at 69th out of 160 nations.

Thailand's market share in the global trading in 2007 fell 1.5 per cent due to the appreciation of the Thai currency, the baht, between 2006-2007, but its exports, especially electronics goods, were still impressive as the country could penetrate new markets including the Middle East andRussia.

He said countries which practiced fewer trade protectionisms and imposed low tariffs enjoyed better trade earnings. (TNA)