The Royal Thai Embassy in the United States has announced through its Facebook page that Thailand has secured ninth place among 87 countries listed as the most open for business in 2023.
The annual ranking – known as ‘Best Country: Open for Business in 2023’ – is organized by the US News and World Report. The ranking considers an equal weighted average of five factors comprising bureaucracy, low production costs, corruption, tax-friendly environment, and transparent government regulations.
Leading the list as the most open country for business is Switzerland, followed by Luxembourg and Finland. On the other end of the spectrum, the least open countries for business are Russia, followed by Iran and Belarus.
The top 10 countries for business friendliness in 2023 are as follows: 1. Switzerland 2. Luxembourg 3. Finland 4. Sweden 5. Norway 6. Denmark 7. Singapore 8. Panama 9. Thailand 10. New Zealand.
Source: PR Thai Government.