Thailand was ranked 3rd in ASEAN, 9th in 40 Asia-Pacific countries and 42nd in the world in the latest Economic Freedom Index. Singapore tops the list for the second year in a row, followed by New Zealand and Australia.
Thailand has a Business Freedom Index of 85.3 out of 100. This is a big improvement over last year which helped keep the overall score of the country to increase to 69.7, a jump of 0.3 points over the previous year.
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The report by the conservative American think tank The Heritage Foundation states that the Thai economy recorded the highest value ever recorded in this year’s index, putting the country within the reach of the most free countries. The government has made remarkable progress in expanding economic freedom, the report added.
However, progress will be hampered without major reforms to reduce corruption and improve the effectiveness of the judiciary.
Regarding the rule of law in Thailand, the report states that laws against property and contract rights are generally good be enforced.
Ref: https://www.pattayamail.com