The World Bank released its latest "Doing Business" report at the start of November, and the study contained favorable news for the Thai economy.
In addition to ranking in the top 10 of countries that most improved their overall ease of doing business during 2016, Thailand placed 26th out of 190 countries in terms of its positive environment for small- and medium-sized companies.
Ulrich Zachau, director of the World Bank's Thailand, Malaysia and Regional Partnerships division, spoke highly of the nation's achievement.
"Thailand has made immense progress in doing business reforms this past year, with strong government leadership at the highest levels," Zachau said, according to The Nation. "We look forward to continuing our strong partnership with Thailand in support of a strong business environment and more good jobs for more people all across the country."
The international financial organization's report noted Thailand's implementation of eight initiatives related to job creation and economic development in 2017. This constitutes a single-year record for the country.
Many of the economic expansions to affect Southeast Asia in the past two decades didn't bring much in the way of benefit to Thailand. However, the last few years saw that fact drastically change, the result being projected growth of 3.9 percent in 2017 and up to 4.6 percent the following year, according to Bloomberg.