The International Institute for Management Development (IMD) has moved Thailand’s competitiveness rank up to 28th from 61 countries worldwide. 

Secretary-General of the National Economic and Social Development Board Poramethi Wimonsiri said the country’s competitiveness moved up by two ranks to 28th, suggesting that Thailand still had strong economic foundations. Various measures the government had imposed to stimulate the economy and facilitate businesses as well as the strong private sector were the factors that helped improve Thailand’s economic indices, said the secretary-general. 

The government’s efficiency also improved following adjustments to regulations in order to help the private sector compete better. 

This year the IMD ranks Hong Kong first, Switzerland second and the U.S.A. third. The competitiveness of all countries in ASEAN except Thailand declines. 

Source: National News Bureau of Thailand