Thailand named best country to start business for second year running, Malaysia comes second

BANGKOK (The Nation/ANN): Thailand was named the best country to start a business for a second year by US News, Wuttikrai Leeveeraphan, director-general of the Commerce Ministry’s Business Development Department, said on Tuesday (Aug 25).

“US News & World Report recently released the names of best countries to start a business and Thailand topped the list for a second year running, ” he said.

According to US News, the ranking draws from results of a global perceptions-based survey and ranks countries based on scores from nearly 6,000 business decision-makers in a compilation of five attributes: affordability, bureaucracy, low manufacturing costs, connecting with the rest of the world and easy access to capital.

“Starting a business in Thailand takes six days and five procedures, according to the World Bank. In 2019, Thailand made starting a business cheaper by introducing fixed registration fees, ” US News said in its website.

Following Thailand are Malaysia, China, Singapore, India and the Philippines.The list can be viewed at

Separately, the World Bank’s 2020 Doing Business list ranked Thailand 21st for overall business practices and 47th for starting business.

The five procedures for starting a business in Thailand include: reserving a company name, putting capital in a bank, registering for new company, registering for value added tax and submitting employee registration. – The Nation/Asia News Network