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Sluggish economy, deficient government pulling down Thailand’s competitiveness

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Sluggish economy, deficient government pulling down Thailand’s competitiveness

By The Nation

 

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Poor economic performance and an inefficient government has brought Thailand’s global competitiveness ranking down by four places this year.

 

Thailand now stands 29 out of 63 economies, down from last year’s ranking of 25, according to the IMD World Competitiveness Ranking 2020 hosted by Switzerland-based International Institute for Management Development.

 

The report released on Tuesday (June 16) also showed that Thailand’s scores had dropped to 75.387 from 77.233 last year.

 

The Kingdom’s ranking in competitiveness had been further weighed down by its economic performance, which fell six places and government efficiency, which dropped three slots.

 

“Thailand’s place in the list has been affected by a sluggish economy, no longer being attractive to foreign investor and concerns about labour shortage in the long run,” said Teeranun Srihong, chairman Thailand Management Association (TMA).

 

“Another key factor is poor government efficiency, taking into account a weakening rule of law, poorly run key national institutions and a deterioration of financial stability.” 

 

However, the country did better in business efficiency and showed slight improvement in infrastructure development. 

 

“Thailand’s overall of competitiveness scores, however, remain low as it has many challenges to overcome such as education, public health, environment as well as science and technology infrastructure,” Teeranun said. 

 

The IMD this year also added new indicators to its ranking methodology, namely sustainable development goals, democracy index and total early-stage entrepreneurial activity. 

 

“Thailand’s ranking was up five places last year, but down four places this year, suggesting that the country’s ability to efficiently respond to fast-changing environments remains the biggest challenge in the long run,” he added. 

 

The top three countries in this year’s competitiveness ranking are Singapore, Denmark and Switzerland in that order. 

 

Source: https://www.nationthailand.com/business/30389738

 

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-- © Copyright The Nation Thailand 2020-06-17
 
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Jack up the baht and it will all go away no such thing as bad news 🤔

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Time for another coup

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3 hours ago, webfact said:

Sluggish economy, deficient government pulling down Thailand’s competitiveness

How long before the government's fake news centre get hold of this. Will I get 'attitude adjustment' too, for quoting the above?

Perhaps I'd better write my will now.

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Less Bang from your Baht!   No Boom Boom  No Joop Joop...No Hab No Hab...

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The IMD - almost as well respected as the WHO is now 5555!

 

They're like some of those university ranking publishers. Cross their palms with silver and hey presto!

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Deficient Government

Well ! Thats a new way of putting it.

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Posted (edited)

I rue the USA #10 ranking, which used to toggle between 1 and 2. Yes, I blame Trump--and that includes the corona virus, which Trump exacerbated by untold numbers.

Edited by Dustdevil
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4 hours ago, PatOngo said:

Are'nt we already in the coup that never ends?

or is that coop (like headless chicken coop)

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Just get the Baht down to Earth.  That’s all they need.

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6 hours ago, webfact said:

The Kingdom’s ranking in competitiveness had been further weighed down by its economic performance, which fell six places and government efficiency, which dropped three slots

 

6 hours ago, webfact said:

“Another key factor is poor government efficiency, taking into account a weakening rule of law, poorly run key national institutions and a deterioration of financial stability.” 

 

6 hours ago, webfact said:

“Thailand’s overall of competitiveness scores, however, remain low as it has many challenges to overcome such as education, public health, environment as well as science and technology infrastructure,” Teeranun said.

Ouch.... Ouch... Ouch !!!!!

3 strikes and you're out !

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