Business Going Down
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.