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World Bank ranks Thailand
as 15th best place for business
Thailand is now ranked 15th out of 178 countries throughout the world by the
World Bank as the most attractive place to conduct business, according to
Gianni Zanini, a leading economist of the World Bank.
Zanini said Thailand’s ranking was obtained from the World Bank’s world
trade indicator for 2008, launched recently and covering global trade.
However, despite the relatively high ranking there are also obstacles in the
Kingdom including too many rules, a lack of skilled personnel and poor
infrastructure, especially in areas outside Bangkok.
According to Zanini, Thailand’s trade and service growth in 2007 earned 7.8
per cent and was ranked at 69th out of 160 nations.
Thailand’s market share in global trading in 2007 fell 1.5 per cent due to
the appreciation of the Thai currency, the baht, between 2006-2007, but its
exports, especially electronics goods, were still impressive as the country
was able to penetrate new markets including the Middle East and Russia.
Zanini said countries that practiced fewer trade protectionisms and imposed
low tariffs enjoyed better trade earnings. (TNA)
PM: Thailand to import low-priced diesel from Russia
The Thai government is negotiating the possibility of
importing diesel fuel from Russia, Prime Minister Samak Sundaravej said on
Sunday.
Samak told viewers and listeners during his weekly TV and radio address that
although the quality of Russian diesel is slightly lower to that of the diesel
currently on the market in Thailand, its price is about Bt8 per litre cheaper
than the current retail price here.
Presently, diesel sells at a retail price of Bt44.24 per litre.
The first batch of Russian diesel is expected to arrive in Thailand during the
next two months and will be sold only to cooperatives, he added.
Meanwhile, Theerachai Saenkaew, deputy minister for agriculture and
cooperatives, said the cabinet had allocated a budget of Bt25 billion to be used
to promote the growing crops used to manufacture ethanol and bio-diesel.
Of the total budget, Bt13 billion will be spent on promoting the growing of
sugarcane for ethanol and bio-diesel production, Bt9 billion to grow cassava and
the rest of the budget for growing palm oil, said Theerachai.
Currently, eight ethanol plants in Thailand are producing 1.22 million litres
daily. The number of refineries will increase to 17 with a combined production
of 2.7 million litres daily by the end of 2008.
The present demand for ethanol in the country is about 700,000 litres daily,
while the balance is exported. (TNA)
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