First, given the geographical disadvantage, domestic insurance policies should be synchronized with India’s and China’s economic policies to be able to maximize neighborhood growth spillovers. Statistical proof demonstrates the faster neighbors grow, the faster the landlocked country shall develop. Second, rather than concentrating on markets in the EU and the US exclusively, policies should be made to maximize trading with our neighbors, China-the, and India two rising giants in the global economy. Tapping the untapped markets along the bordering states, where in fact the transportation costs are low, by producing goods and services that are within the reach of the individuals residing there would be a fruitful exercise. Third, design policies to lure FDI in transportation infrastructure and large- and small-scale hydropower tasks.
The government could substantially ease regulatory structure, ensure security of results to investment and uniformity of hydropower plan, solve labor disputes, build grids to improve share and connection risks with the private sector, amongst others. Fifth, the government should help international investment in the tourism sector. Increasing visibility in the international tourism market, easing of visa restrictions, ensuring security, and, most importantly, improving tourism infrastructure such as road transport, railways, and ICT would help a lot. Sixth, the government should help foreign work and inflow of remittances also. Not much needs to be said about the role of remittances, which account for almost 20 percent of GDP already.
- 34 The *ell
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