Thailand named best for business

Thailand named best for business

Thailand has won the top ranking this year for being the best country to start a business.

The 2020 Best Countries to Start a Business ranking by the US News & World Report, was based on the results of a global perception-based survey. It categorised countries based on scores 6,000 decision-makers gave relating to five attributes: affordability, bureaucracy, low manufacturing costs, connection with the rest of the world and access to capital.

The survey also took into account the fact that Thailand is one of the most visited countries, has a substantial agricultural sector and a competitive manufacturing industry, which has kept Thailand's growth strong with low poverty and unemployment rates. It is also the world's largest exporter of rice and a leader in textiles, tin and electronics, the report said.

In the top five, Malaysia came in second, followed by China, Singapore and India.

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