3) Some inconvenience in business Although the World Bank's Doing Business ranking has ranked Thailand #17 from 183 countries (Singapore is ranked #1 and Malaysia #18), some factors are obstacles to doing business in Thailand, as follows: "Starting a business”: Investment or conducting business in Thailand involves having to contact many government agencies, with multiple processing steps, which are individually time-consuming. "Receiving credit": SMEs have credit access restrictions and financial costs are still high because Thai financial institutions have a certain monopoly level. "Taxation": Thailand’s corporate tax rate of 30 percent is higher than that of its neighbours. However, if the government reduces the corporate tax, this will be effective in attracting investment.