Singapore has ranked as a leader in the Doing Business Report- 2015. This year Singapore is followed by New Zealand, Hongkong SAR China, Denmark, Republic of Korea, Norway and so on. The United States ranks 7th, while Japan ranks 29th.
Ease of Doing Business report 2015 is 12th annual report of World Bank group that provides investigated report of the business regulations that enhance business activity and those that constrain it. It is based on measurement of 10 different quantitative factors namely: starting a business, dealing with construction permits, getting electricity, registering property, getting credits, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
In 2013-14 Tajikistan was the nation that improved most significantly followed by Benin, Togo, Cote d'Ivoire, Senegal, etc. To be noted also is the Sub Saharan African region with the largest number of economies accounted for regulatory reforms in 2013/14. While South Asia as a whole has a lower reforms and is slightly placed over OECD countries and Middle Ease and North Africa countries based on the reforms measures taken.
Nepal performance in the Ease of Doing Business has improved by a mere position of a unit with ranking of 108. Still to this date Nepal remains an unattractive place to do business. Though this year figure shows improvements in some indicators of the study, still Nepal needs to improve in many sectors. However if we compare Nepal's rank with that of other South Asian countries, it seems to be in a comparatively better position. Sri Lanka improved the most by jumping six place up in the ranking to 99. Sri Lanka is followed by Nepal with ranking of 108. Other countries rank as follows: Maldives (116), Bhutan (125), Pakistan (128), India (142), Bangladesh (173). The regional rank is 134.
The trading across border of Nepal is lowest among its South Asian neighbours. However it has the best ranking in terms of registering property(globally 27th) which requires 3 procedures, 5 days and 4.8% of property value to register. The regional average is 6.4 procedure, 99.5 days, and 7.2% of total property value.
This year following reforms aided for improvement of the ranking:
1) Adaptation of new building regulations ( Earthquake resilience)
2) Improved building inspections process
3) Improved/Introduced electronic platforms or online services (for obtaining building permits)
The ranking is updated till June 1, 2014 and thus doesn't include the latest strings of development that the Nepalese government has unveiled in Nepalese business environment like, trade agreement, regulatory changes in the hydropower sector etc. However Ease of Doing Business indicator is remarkable in the sense it gives country like Nepal an assessment of which regulatory reforms have been working, where and why, either in a country's scenario or of that of any other country and thus learn from them.
Massive power cuts, uncertainty about constitutional drafting, volatile political and business environment, etc might have had negative effect to this ranking. As such the government should put a vigil eyes on reforms measure and thus should incorporate methods to improve the business condition of the country. The indicators like:- getting electricity, getting credit, paying taxes etc should be improved more to ensure that ranking gets improved.
However the recent bilateral agreements, Power Trade Agreement with India, surging foreign in Tourism sector, possible promulgation of constitution etc makes one hopeful of the overall business environment improving and thus the ease of doing business also to improve.
Reference:
http://www.doingbusiness.org/
Ease of Doing Business report 2015 is 12th annual report of World Bank group that provides investigated report of the business regulations that enhance business activity and those that constrain it. It is based on measurement of 10 different quantitative factors namely: starting a business, dealing with construction permits, getting electricity, registering property, getting credits, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
Nepal performance in the Ease of Doing Business has improved by a mere position of a unit with ranking of 108. Still to this date Nepal remains an unattractive place to do business. Though this year figure shows improvements in some indicators of the study, still Nepal needs to improve in many sectors. However if we compare Nepal's rank with that of other South Asian countries, it seems to be in a comparatively better position. Sri Lanka improved the most by jumping six place up in the ranking to 99. Sri Lanka is followed by Nepal with ranking of 108. Other countries rank as follows: Maldives (116), Bhutan (125), Pakistan (128), India (142), Bangladesh (173). The regional rank is 134.The trading across border of Nepal is lowest among its South Asian neighbours. However it has the best ranking in terms of registering property(globally 27th) which requires 3 procedures, 5 days and 4.8% of property value to register. The regional average is 6.4 procedure, 99.5 days, and 7.2% of total property value.
This year following reforms aided for improvement of the ranking:
1) Adaptation of new building regulations ( Earthquake resilience)
2) Improved building inspections process
3) Improved/Introduced electronic platforms or online services (for obtaining building permits)
The ranking is updated till June 1, 2014 and thus doesn't include the latest strings of development that the Nepalese government has unveiled in Nepalese business environment like, trade agreement, regulatory changes in the hydropower sector etc. However Ease of Doing Business indicator is remarkable in the sense it gives country like Nepal an assessment of which regulatory reforms have been working, where and why, either in a country's scenario or of that of any other country and thus learn from them.
Massive power cuts, uncertainty about constitutional drafting, volatile political and business environment, etc might have had negative effect to this ranking. As such the government should put a vigil eyes on reforms measure and thus should incorporate methods to improve the business condition of the country. The indicators like:- getting electricity, getting credit, paying taxes etc should be improved more to ensure that ranking gets improved.
However the recent bilateral agreements, Power Trade Agreement with India, surging foreign in Tourism sector, possible promulgation of constitution etc makes one hopeful of the overall business environment improving and thus the ease of doing business also to improve.
Reference:
http://www.doingbusiness.org/
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