Issuing a press release Friday, IFC said the initiative is designed to improve the ease of doing business, raise economic activity, reduce costs and risks of business operation and improve the government´s capacity to build and sustain momentum for reform. [break]
“Nepal needs to improve in many areas, including starting a business, dealing with construction permits, paying taxes, and trading across border,” the release said. Nepal was ranked 116th in the “Doing Business Report 2011” published by IFC.
IFC in partnership with Department for International Development of the United Kingdom is working on a reform program to strengthen business registration and assess the current registry system to help Nepal attract more private investment.
“We are please to work with IFC to prioritize good governance and transparency through process simplification, and to introduce legal and strategic reforms to aid business,” the release quoted Industry Secretary Pratap Kumar Pathak.
IFC is working to promote sustainable economic growth in developing countries by supporting private sector development, mobilizing capital for private enterprise among others.
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