Thailand has become a better place to do business, according
to the latest report from the Economist Intelligence Unit.
In its Business Environment Rankings report, Thailand has
risen to 34th spot, up from 38th position in the last report some four years
ago. Singapore is still ranked as the best place to do business, according to
the report.
Commenting on Asia in general the report says: “Asia is a
diverse region, and there are large differences between the overall scores and
global rankings of its top four countries (Singapore, Hong Kong, Australia and
New Zealand) and its poorest performers (Bangladesh and Pakistan, in 69th and
74th place respectively, out of the 82 countries ranked).
“The gap reflects the widely varying levels of economic
development and political stability between these countries, alongside sharp
differences in the underlying structure shaping laws and regulations of foreign
investment.”
The report adds: “Asia’s best performers have several
factors in common: a favourable policy environment – particularly for finance
and foreign investment – with competition policies that encompass international
best practice. Especially in East Asia, competition between cities to become
hubs for international finance, manufacturing and logistics has driven
improvements in the business environment.
“Despite tensions in some countries over immigration from
poorer neighbours, migration of skilled labour within Asia will remain
relatively unimpeded and overall labour market conditions will continue to
compare extremely favourably to other regions, with companies able to expand or
reduce their workforce with ease, as well as benefitting from freedom to set
wages and hire foreign nationals.
“Infrastructure remains a relative weak point for Asia, with
only Singapore ranking among the world’s top 10 in this category (compared with
other areas of the business environment, faring relatively poorly, in 7th
place). Australia, Japan and New Zealand trail in joint 14th place, with Hong
Kong coming in at 18th. While some of the region’s infrastructure is excellent,
particularly in telecoms and air transport, other areas require investment to
improve distribution networks and utilities provision, as well as lower office
rents.”
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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If you have a news story or comment for publication about Thailand property or real estate email: andrew@propertyguru.com.sg
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