|
In New Delhi:
Minakshi Seth
Phone: +91 11 4111 1000
IFC Helps Bhutan Introduce Licensing e-Portal to Spur Business Growth
Thimphu, Bhutan, August 15, 2012—
IFC, a member of the World Bank Group, has partnered with the government of Bhutan to introduce an e-portal of business licenses to make it easier to start a business in the country, boosting economic growth and foreign investment.
The Bhutan e-portal of licenses, hosted on
www.g2b.gov.bt
, contains comprehensive information on all authorizations including licenses, sector-specific clearances, and permits required to start and operate businesses. The South Asia Enterprise Development Facility, managed by IFC in partnership with the UK government and the Norwegian Agency for Development Cooperation, is leading this initiative.
“The e-portal will particularly encourage small entrepreneurs and business owners from remote regions to obtain business licenses as they will be able to access information on licensing processes from home or community information centers,” said Dasho Sonam Tshering, Bhutan’s Economic Affairs Secretary.
Through the e-portal, Bhutanese entrepreneurs, including non-resident and foreign investors, can now get reliable and complete information needed to apply without having to visit the licensing agency’s office.
The initiative builds on IFC’s work since 2005 on business registration legislation. In 2011, IFC helped to inventory business licenses and collected information on 119 licenses issued by 29 agencies, identifying compliance burden in terms of time and cost involved, expenses that impact investment.
On his first visit as IFC’s Acting Executive Vice President and Chief Executive Officer, Rashad Kaldany, said, “IFC’s support to Bhutan on licensing reform will help enhance transparency and create an enabling environment for local business to grow and thrive.”
Bhutan has been an IFC member country since 2003. Important initiatives by IFC include promoting public-private partnership projects, especially in infrastructure, such as urban transport systems in the commercial centers of Thimphu and Phuentsholing. IFC is committed to supporting investment climate improvements, strengthening local financial institutions, improving access to finance, and promoting trade finance, tourism and improvements in corporate governance.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit
www.ifc.org
.
Stay Connected
|
