The government of Nepal must introduce the following reform agendas in the upcoming pre-budget discussion to achieve the desired economic growth:
Starting a Business:
- Devolve business registration functions to local levels and a functioning one-window for registration
- Develop a universal database and use compatible softwares at different government institutions to enable real-time inter-department coordination
- Allowing incorporation of a one-man company based on a one-page AoA; building a model document for more-than-one-man private companies; and allowing nominating agents to handle the entire incorporation process in case of a public company.
- Make a legal provision to complete industry registration within 36 hours and complete company incorporation within seven days of having filed application