Improving the investment climate and reducing the cost of doing business is fundamental for growth in every developing economy – and those priorities are especially important in fragile states where institutions suffer from low public trust and chronic inefficiencies.
In Nepal, a recent World Bank Group investment climate reform initiative helped the country achieve a number of reforms to its investment climate, ultimately making it easier for businesses to open, operate and engage with the government.
The initiative – led by the World Bank Group’s Trade & Competitiveness (T&C) Global Practice – helped reduce the time and cost of starting a business and obtaining construction permits; helped make government-to-business services faster and seamless; and empowered natural-disaster resilience by moving critical information into “the cloud”. This move ensures that key data would be saved in the event of a future disaster and that post-disaster reconstruction and the restoration of business activities would take place.
While the project encountered some difficulties along the way, due to the fragile context of the country, it succeeded in delivering a reform platform aligned with the country’s needs….