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Nepal Becoming Competitive in Global Market: Report
1 min 14 sec to read
October 5: Nepal’s economy has become competitive in the global market in recent years, states a recent report prepared by World Economic Forum (WEF). According to the report, Nepal’s economy has climbed 10 places among the list of competitive nations in world market in the year 2017/18. With four points, Nepal currently stands 88th among 137 nations in the rankings published by the WEF.
Last year, Nepal ranked 98th among 138 nations with 3.9 points. Just in one year, Nepal progressed in all the sectors in the Global Competitive Index (GCI) to leapfrog ten places in the rankings. However, the report has pointed out political instability as the biggest challenge for Nepal’s economy. Another challenge, according to the report, is weak bureaucracy of Nepal.
Although Nepal’s politics has been marked by instability and transition, the country’s competitiveness in the global market has been steadily rising since 2012/13, the report states. However, Nepal’s economy has not made progress as expected due to lack of infrastructure, corruption, access to financing and unstable policy.
As per the GCI, Nepal ranks fourth among the South Asian countries. India, which leads South Asia in the rankings, is 40th globally. Bhutan (82nd) and Sri Lanka (85th) rank second and third among South Asian nations followed by Nepal, Bangladesh (99th) and Pakistan (115th).
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'title' => 'Nepal Becoming Competitive in Global Market: Report',
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'summary' => 'October 5: Nepal’s economy has become competitive in the global market in recent years, states a recent report prepared by World Economic Forum (WEF).',
'content' => '<p>October 5: Nepal’s economy has become competitive in the global market in recent years, states a recent report prepared by World Economic Forum (WEF). According to the report, Nepal’s economy has climbed 10 places among the list of competitive nations in world market in the year 2017/18. With four points, Nepal currently stands 88<sup>th</sup> among 137 nations in the rankings published by the WEF.</p>
<p>Last year, Nepal ranked 98<sup>th</sup> among 138 nations with 3.9 points. Just in one year, Nepal progressed in all the sectors in the Global Competitive Index (GCI) to leapfrog ten places in the rankings. However, the report has pointed out political instability as the biggest challenge for Nepal’s economy. Another challenge, according to the report, is weak bureaucracy of Nepal.</p>
<p>Although Nepal’s politics has been marked by instability and transition, the country’s competitiveness in the global market has been steadily rising since 2012/13, the report states. However, Nepal’s economy has not made progress as expected due to lack of infrastructure, corruption, access to financing and unstable policy.</p>
<p>As per the GCI, Nepal ranks fourth among the South Asian countries. India, which leads South Asia in the rankings, is 40<sup>th</sup> globally. Bhutan (82<sup>nd</sup>) and Sri Lanka (85<sup>th</sup>) rank second and third among South Asian nations followed by Nepal, Bangladesh (99<sup>th</sup>) and Pakistan (115<sup>th</sup>). </p>
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simplexml_load_file - [internal], line ??
include - APP/View/Elements/side_bar.ctp, line 133
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::_renderElement() - CORE/Cake/View/View.php, line 1224
View::element() - CORE/Cake/View/View.php, line 418
include - APP/View/Articles/view.ctp, line 391
View::_evaluate() - CORE/Cake/View/View.php, line 971
View::_render() - CORE/Cake/View/View.php, line 933
View::render() - CORE/Cake/View/View.php, line 473
Controller::render() - CORE/Cake/Controller/Controller.php, line 968
Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200
Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167
[main] - APP/webroot/index.php, line 117
