September 10, 2010 5:38 PM

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Nepal ranks 130th in 'Global Competitiveness Report

Nepal stood in 130th position among the 139 countries that featured in Global Competitiveness Report 2010-2011, which was released by the World Economic Forum. Nepal featured in bottom ten as it could not meet the basic requirements such as institutions, infrastructure, macroeconomic environment, health and primary education.Releasing the report in Kathmandu on Friday, Bharat Pokharel, Executive Director of Centre for Economic Development and Administration Research (CEDA) of Tribhuvan University said that the research was carried out in 139 counties and the rankings are calculated from both publicly available data and the Executive Opinion Survey. The report also stated that government instability, corruption, policy instability and inadequate supply of infrastructure has adversely affected the business in Nepal. According to Pokhrel, a comprehensive annual survey was conducted by the World Economic Forum together with its network of Partner Institutes in Nepal in March-April among 102 small and large enterprises that employ more than 50 people.According to the report, Switzerland stood at the top of the list followed by Sweden, Singapore, the US, Germany, Japan, Finland, Denmark and Canada in the top ten list. Chad, Angola, Burundi, Zimbabwe, Mauritania, Burkina Faso, Mali, Mozambique and Nepal stood in the last ten positions in the Global Competitiveness Report 2010-2011.In last year's Report, Nepal stood in 125th position out of 130 countries. China is in the 27th position and from South Asia India is in 51th position.

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