Nepal making no progress in business and economic reforms: WB report

Nepal has ranked 111th in the list of 178 countries in terms of making progress in business and economic reforms, a new research by World Bank says.

The report entitled 'Doing Business 2008' indicates that the environment for starting business has deteriorated. Last year, the indicators showed Nepal at 60 which has decreased to 52 this year.

Similarly, Nepal's rank has dropped in areas such as registering properties, getting credits, protecting investors, paying taxes and trading across borders.

Nepal ranks fifth after Maldives, Pakistan, Sri Lanka and Bangladesh, but is ahead of three other South Asian nations - Bhutan, India and Afghanistan. The indicators show environment for employing workers is worst in the region while it tops the region in terms of registering properties.

The report says countries like Afghanistan, Bhutan, India, Pakistan and Sri Lanka of this region have made progress in doing business over the year. nepalnews.com ia Sep 27 07