Thailand’s economic

Thailand’s economic freedom score is 63, making its economy the 67th freest in the 2009 Index. Its score is 0.7 point better than last year, reflecting improvements in three of the 10 economic freedoms. Thailand is ranked 10th out of 41 countries in the Asia–Pacific region, and its overall score is higher than the world average.

Showing a moderate degree of resilience, Thailand has continued its steady economic growth in recent years. The regulatory environment has become more efficient and streamlined. Opening a business takes less time than the world average, and overall licensing procedures are simple and transparent. The financial sector continues to be strengthened and is more open to competition. Private property is generally protected, although the judiciary is subject to inefficiency and corruption.

Thailand scores less well in monetary freedom, investment freedom, and freedom from corruption. Though inflation is moderate, the government directly subsidizes the prices of a number of staple goods. Foreign investment is subject to a variety of serious restrictions that are not enforced uniformly. Corruption is significant, although not as extensive as in many neighboring countries.