World Bank has ranked countries on “ease of doing business”, with Thailand being number 18 on the list, while Singapore won the first place for 8 consecutive years.

World Bank has announced its survey conducted on 189 countries worldwide, saying Thailand is ranked 18th on the list among countries with most business-friendly regulations for the upcoming year 2014. According to the survey, Singapore is still the country with the highest score on the ease of doing business index, followed closely by Hong Kong, which is ranked second.

Higher rankings indicate better, usually simpler, regulations for businesses. The index is based on the study of laws and regulations of a country and how much a country can support business growth, starting from getting a business license and registering property to protecting investors and paying taxes.

Thailand, was also ranked 18th last year, dropping a notch from two years ago, when it was ranked 17th.

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