Powering MSMEs: An Agenda for Growth April 22, 2021, 6:27 PM IST
According to Nobel Laureate Professor Paul Krugman,
“
almost everything depends almost entirely on its ability to raise its output per worker.”
India’s productivity growth is pale in comparison with its peer countries over the last 250 years. Limited free markets, rigidity of factor markets and the eventual low levels of total factor productivity are all responsible for India’s mediocre performance. To reverse this low-performance trajectory, we need to focus on prescriptions to uplift the micro enterprises because these firms dominate the Indian business landscape, and their success has far-reaching social and economic consequences.
An oil rig: Oil has been both a blessing and a curse to different countries.
By separating oil revenues from the government spendings, the Norwegian government ensured that people were “kept at work”, the value of labour was kept high constituting 81 per cent of the Norwegian national wealth per capita, while oil and gas only holds 4 per cent. Taxes are moderate… Prosperity in Norway is mainly a product of the efficiency and productivity of its people.
Whether Nigeria has utilised its oil wealth in a prudent manner is still a topic for national debate. However, considering how dependent the country’s economy has become on oil revenues, the shrinking of other economic and revenue generating sectors including agriculture, mining and manufacturing, and the resultant unhealthy rate of economic development, most Nigerians believe Nigeria is yet another patient infected by the debilitating “Dutch Disease”.
THAILAND RACES AHEAD IN THE GLOBAL DIGITAL REVOLUTION
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published : 23 Feb 2021 at 13:40
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Facilitated by easier access to high-speed internet, the rise of Thailand’s vibrant digital industry over recent years has been underpinned
by the rich creativity and strong entrepreneurial spirit of Thailand’s tech-savvy digital generation. At the forefront of this brave new digital world, Thailand has seen its economy consistently prove its readiness to embrace the new opportunities presented by the global digital revolution.
Supported by the country’s active development of its ICT infrastructure, Thai business are increasingly adopting digital tools such as AI, cloud computing and next generation digital platforms to enhance their efficiency. Meanwhile, mobile and real-time digital activities such as e-commerce, fintech and online entertainment are readily embraced as part of Thai people’s changing lifestyles.
Setting up shop in the UAE: Deciding on business jurisdiction
Chandy Joseph
Chandy Joseph, Director - Company Formation and PRO Services.
Explore attractive licence options for unmatched global success.
Ease of doing business, strategic location, superb infrastructure, socio-political stability, and a visionary, proactive and business-friendly government are some of the many reasons why the UAE, the second-largest economy in the region with one of the highest per capita incomes in the world, is such an attractive investment destination.
Consider some of the facts and figures: zero corporate income tax, and one of the lowest VAT rates anywhere; 100 per cent capital and profit repatriation, and 100 per cent FDI ownership in many sectors; 16th rank out of 190 in World Bank s Doing Business 2020 report; 25th rank in the World Economic Forum s Global Competitiveness Index and 12th on infrastructure, etc.