BANGKOK, Oct. 24 (Xinhua) -- Thailand's ranking in the World Bank's Ease of Doing Business 2020 list has edged up 6 places, from 27th to 21st this year from 190 countries surveyed, said Thai Finance Minister Uttama Savanayana on Thursday.
In the ranking, Thailand's scored increased 1.65 to 80.10, the highest in the past six years, Uttama said.
Citing the World Bank's latest Ease of Doing Business report released on Thursday, Uttama said cheerfully that Thailand is close to catching up with Malaysia's scores of 81.50 and Singapore's 86.20.
The World Bank ranked Singapore second and Malaysia 12th in Doing Business 2020 report.
Thailand has done better in dealing with construction permits by cutting 19 procedures to 14 and waiting times for approval from 118 days to 113 days, climbing the rank to 34th from 67th, said the report.
Uttama added that protecting minority investors had been highlighted by the Thai government, pushing up the rank in this category to third place from 15th last year.
The finance minister however, said Thailand still needs to make progress in many areas to facilitate investments.
The World Bank reported that this year's index looked into regulations affecting businesses including starting a business, acquiring construction permits and electricity, property registration, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.
