Sluggish economy, deficient government pulling down Thailand’s competitiveness

[webfact]

Sluggish economy, deficient government pulling down Thailand’s competitiveness

By The Nation

 

 

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

 

-- © Copyright The Nation Thailand 2020-06-17

 

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[sammieuk1]

Jack up the baht and it will all go away no such thing as bad news ????

[Creasy]

Time for another coup

[PatOngo]

22 minutes ago, Creasy said:

Time for another coup

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

[Thaiwrath]

2 hours ago, webfact said:

Sluggish economy, deficient government pulling down Thailand’s competitiveness

If the headline had been what is in the bold print in would have been suffice ! 

[soalbundy]

ooops, someone told the truth.

[bluesofa]

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.

[ChakaKhan]

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

[Baerboxer]

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!

[Cake Monster]

Deficient Government

Well ! Thats a new way of putting it.

[Dustdevil]

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 June 17, 2020 by Dustdevil

[Artisi]

4 hours ago, PatOngo said:

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

or is that coop (like headless chicken coop)

[Isaan sailor]

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

[hotchilli]

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 !

[spidermike007]

“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.” 

 

What can one even say? When you consistently hire from the absolute bottom of the barrel, and end up with woefully underqualified ministers like Anutin and Pipat, and a PM like Prayuth and underlings like Prawit, of course the government is inefficient, and has a weak rule of law. Protecting the rich, those that are connected, the members of the army, the administration, the spectacularly corrupt police, immigration, and customs, does not lead to a strong rule of law, by any standards.

 

The army is assuring that Thailand is moving backwards, at an alarming pace. All this while at least some of the neighbors are actually making progress. If the nation is to move forward, the army needs to go, and it cannot happen soon enough. 

[trainman34014]

This must all be a terrible Misunderstand as 'The Greatest Country on Earth' could never be as low as 29 !    Lol.

[BobbyL]

Some of the things he says are absolutely correct. There is absolutely nothing, and I mean nothing, this government has shown in regards to developing and sustaining a growing economy. 

 

Investment is steadily leaving the country and their big chestnut of the EEC looks like nothing more than a dream. The sorts of ideas they are coming up are laughable (chim shop taste whatever), but that is what you can expect when the government are ran by guys that have spent their life in the military and posses no economic or political skills. 

[RichardColeman]

If you think we are doing a bad job, vote us out

[Knocker33]

6 hours ago, Dustdevil said:

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.

I think Trump must have been bought into every thread on here for the last year. Just face it you've got him for a few more years

[mok199]

When bars finally open , I wonder is I can afford a beer with the new menu prices..Thailands answer to lack of customers seems to be , jack the prices up to cover losses,not lower prices to encourage business..

[BritManToo]

19 hours ago, Dustdevil said:

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.

Wondering what 'competitive' means .... it doesn't appear to be anything to do with size.

USA is still number 1, UK is still number 4 or 5.

 

Norway & Denmark, in the top 10, are completely broke.

Edited June 18, 2020 by BritManToo