2010年-世界发展银行全球_Bhutan_Investment_Climate_Assessment_Report___Vitalizing_the_Private_Sector_Creating_Jobs_Volume_1_Summary_Report_40页_1mb
报告摘要
Bhutan Investment Climate Assessment Summary Report
Core Content
The Bhutan Investment Climate Assessment (ICA) is a comprehensive evaluation of the investment environment in Bhutan, aimed at promoting private sector growth and job creation. Conducted by the World Bank in 2010, the assessment is based on two main surveys: one covering small, medium, and large enterprises in the manufacturing and services sectors, and the second focusing on employees of larger firms across various sectors. The report also draws on data from the Doing Business Report, analytical reports from the World Bank, IMF, and other international organizations, and academic research to provide a detailed overview of Bhutan's investment climate.
Main Themes
The ICA report highlights three primary themes:
- Labor Productivity and Skills
- Access to Finance
- Business Government Relations
In addition, it includes a chapter on the gender dimensions of the investment climate.
Key Findings
- Favorable Investment Climate: Bhutan has a relatively favorable investment climate in areas such as governance and infrastructure, performing better than many regional and international comparator countries.
- Unique Advantages: Bhutan benefits from its hydropower resources, which offer extremely competitive electricity prices, and its proximity to the Indian market, which provides preferential access for its private sector.
- Challenges Remain: Despite these advantages, the private sector faces significant challenges, particularly in access to finance, skilled labor, and regulatory complexity.
- High Labor Costs and Skills Shortage: The lack of vocational and technical training leads to high labor costs and attrition rates, especially for small and medium enterprises (SMEs).
- Regulatory Burden: Firms report high administrative costs due to unclear and multiple licensing procedures, which need to be simplified to improve the investment climate.
Key Policy Recommendations
Labor Productivity and Skills
| Constraint | Short Term | Medium Term |
|---|---|---|
| Skills Shortage | Expand incentive programs for training/employment of semi-skilled and skilled workers<br>Facilitate access to expatriate workers<br>Ease salary ceilings for high-demand professionals<br>Conduct market assessment on youth job expectations | Improve skill provision system<br>Support private sector vocational training and university-industry linkages |
Access to Finance
| Constraint | Short Term | Medium Term |
|---|---|---|
| Collateral-Based Lending | Include all account data in the Credit Bureau<br>Support Financial Institutions Association of Bhutan<br>Review cash reserve ratio and statutory reserve ratio | Support non-registered firms in maintaining accounting and auditing standards<br>Encourage new product development (e.g., export-based loans)<br>Build capacity of banks to lend to MSMEs<br>Support access to finance through partial loan guarantee schemes, credit lines, grants, and venture capital |
Business Government Relations
| Constraint | Short Term | Medium Term |
|---|---|---|
| Limited Formal Consultations | Develop implementation blueprint for Economic Development Policy<br>Support Private Sector Development Committee to improve public-private dialogue<br>Support BCCI as an apex agency | Support public-private investment promotion<br>Amend legal base of ex-ante licensing requirements<br>Introduce risk-based inspection systems |
Women in Business
| Constraint | Short Term | Medium Term |
|---|---|---|
| Low Participation in Formal Sector | Ensure women's voices are included in the PSD Committee<br>Systematic collection of gender data in government statistics<br>Promote and monitor female participation in job placement programs | Launch awareness campaigns for women in skilled employment<br>Create government-funded scholarships for women |
Key Statistics and Context
- Fiscal Year: July–June
- Currency Unit: Bhutan Ngultrum (Nu.)
- Exchange Rate: 1 USD = 48.41 Nu. (average for 2009)
- Economic Growth: Bhutan averaged over 7% real annual economic growth in the past decade.
- Hydropower Potential: Bhutan has 23,760 MW of hydropower potential, with a target to tap 10,000 MW by 2020.
- GNI per Capita: US$2020 in 2009, the second highest in South Asia after the Maldives.
- Corruption Perception Index (CPI): 5 in 2009, making Bhutan the least corrupt country in the region.
- Unemployment Rate: Rose from 2.2% in 1998 to 13% in 2010, with a mismatch between skills and employment opportunities.
- Infrastructure Challenges: More than 50% of the population lives half a day's walk from the nearest motor road, and access remains a problem in remote areas.
Vision for Private Sector Development
- Hydropower Utilization: Bhutan should continue to leverage its hydropower resources to diversify the economy and support growth in sectors such as tourism, ICT, education, and niche organic products.
- Technology Adoption: Encouraging the adoption of new technologies can increase labor productivity and competitiveness.
- FDI and Market Access: Easier access to FDI and international markets can foster investment in technology and other growth areas.
- Education and Training: Strengthening tertiary education and vocational training is essential to address skill gaps and support the private sector's growth.
Conclusion
The ICA report underscores the importance of addressing key constraints to the investment climate, such as access to finance, labor skills, and regulatory complexity, to ensure sustainable and inclusive private sector development in Bhutan. By leveraging its unique advantages and implementing targeted policy reforms, Bhutan can continue to grow and create jobs, aligning with its vision of Gross National Happiness (GNH) and long-term economic sustainability.
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