Thailand has secured the ninth spot among 87 countries listed as the most business-friendly in 2023, the Royal Thai Embassy in the U.S recently shared on its Facebook page.
The annual ranking, known as the Best Countries for Business in 2023, is organized by the U.S News and World Report. The ranking takes into account a weighted average of five factors. These includes bureaucracy, low production costs, corruption, tax-friendly environment and transparent government regulations.
Finland comes in third and is thereby the best placed Scandinavian country in the ranking, followed by Sweden, Norway and Denmark – that is the only Nordic country not to make top five.
The top 10 countries for business-friendliness in 2023 are:
Switzerland
Luxembourg
Finland
Sweden
Norway
Denmark
Singapore
Panama
Thailand
New Zealand
Source: thailand-business-news.com
