Busi­ness Go­ing Down

Southasia - - ON RECORD - Sabi­tri Sun­war, Wang­due Pho­drang, Bhutan.

A re­cent re­port by the World Bank has ranked Bhutan as 73rd out of 190 coun­tries for ease of do­ing busi­ness in 2017. Com­pared to the coun­try’s last year’s rank­ing of 71 out of 198 coun­tries, this year’s po­si­tion is quite a shocker to the Bhutanese gov­ern­ment. Though it re­mains the eas­i­est coun­try to do busi­ness in South Asia, Bhutan needs to pay at­ten­tion to im­prove its ex­ist­ing busi­ness reg­u­la­tions ap­plied to do­mes­tic firms. Ac­cord­ing to the World Bank, Bhutan per­forms be­low its po­ten­tial ow­ing to the lack of gov­ern­ment sup­port avail­able to mi­nor­ity in­vestors and strug­gling com­pa­nies op­er­at­ing in the coun­try. As such, there is no con­cept of re­solv­ing in­sol­vency in Bhutan, which largely hurts small in­vestors. Over­all, the trend is not good for Bhutan’s long-term de­vel­op­ment and eco­nomic growth. The gov­ern­ment should look into the mat­ter se­ri­ously.

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