Nepal drops a notch in Doing Business Index

Nepal fell a notch to 108th position this year compared to last year in term of business friendly environment, according to Doing Business Index (DBI)-2013 released last week by the World Bank.
According to the report, Nepal has been ranked 108th among the total 185 economies surveyed.
Nepal ranked 107th in the DBI report of 2012. The report that was published by International Finance Corportation (IFC) evaluated the business friendly situation in different economies across the world on the basis government policies and domestic laws governing the private sector.
The DBI is a key instrument used by international investors to gauge the business environment in a particular country before making investment decisions.The report also found that investors have to spend at least 29 days to complete seven procedures before starting business.
Likewise, registration cost in Nepal stands at around 33 percent of per capita income.
Similarly, the country´s situation in terms of starting business has also worsened over the year. The report shows that DBI has ranked Nepal 105th in terms of starting a new business whereas it was in 100th rank in the DBI report of 2012.