Country List--V-Next

Introduction of Switzerland economic environment

Switzerland, is a sovereign state in Europe. It consists of 26 cantons, and the city of Bern is the seat of the federal authorities. Switzerland is a landlocked country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning a total area of 41,285 km2 (land area 39,997 km2). While the Alps occupy the greater part of the territory, the Swiss population of approximately eight million people is concentrated mostly on the plateau, where the largest cities are to be found: among them are the two global cities and economic centres Zürich and Geneva. Switzerland is one of the most developed countries in the world, with the highest nominal wealth per adult and the eighth-highest per capita gross domestic product according to the IMF. Switzerland ranks at or near the top globally in several metrics of national performance, including government transparency, civil liberties, quality of life, economic competitiveness, and human development. It has the world's nineteenth largest economy by nominal GDP and the thirty-sixth largest by purchasing power parity. It is the twentieth largest exporter, despite its small size. Switzerland has the highest European rating in the Index of Economic Freedom 2010, while also providing large coverage through public services. Switzerland is home to several large multinational corporations. The largest Swiss companies by revenue are Glencore, Gunvor, Nestlé, Novartis, Hoffmann-La Roche, ABB, Mercuria Energy Group and Adecco. Also, notable are UBS AG, Zurich Financial Services, Credit Suisse, Barry Callebaut, Swiss Re, Tetra Pak, The Swatch Group and Swiss International Air Lines. Switzerland is ranked as having one of the most powerful economies in the world.

Bangladesh

Located in the South Asian subcontinent, Bangladesh belongs to the largest river delta as well as one of the most fertile regions of the world with a total area of 147,570 square km and a coastline of 710 (check) km. It has a population of 160.8 million (as on July 2016), making it one of the densely populated countries of the world. Bangladesh is largely ethnically homogeneous. Over 98 percent of the people speak in Bangla. English is widely spoken as well. The country is covered with network of rivers and canals forming a maze of interconnecting channels and rich waterways. In Asia, Bangladesh has been considered as one of the highest growth performers in 2018. The World Bank ranks Bangladesh as the 32nd largest economy in terms of Purchasing Power Parity (PPP) and 43rd largest economy in terms of Nominal GDP as Bangladesh grew at 7% plus rate in the recent years, 6% average in last decade, ranked as one of the fastest growing economies of the world. The average GDP growth rate of Bangladesh in the past decade has remained above 6%. GDP of Bangladesh has grown by 7.86% in fiscal year 2018 mainly driven by the double digit manufacturing sector growth and decent service sector growth, reaching GDP to USD274.5 billion. Bangladesh is currently the world's second largest exporter of garments, and the garment processing industry is its pillar industry. In recent years, the Bangladeshi government has launched a series of economic and social development plans to vigorously develop infrastructure, energy and power, transportation, communications, chemicals, textile and garment industries. The government plans to build 100 economic zones by 2030 to attract domestic private enterprises and foreign investment.

Kindom of Cambodia

Cambodia is situated on the southwestern part of the Indochina peninsula. It shares a 2,615 km border with Vietnam (1,270 km), Thailand (805 km), and Laos (540 km). The total population of Cambodia is 14.5 million. Cambodia is a member of ASEAN and WTO. Following more than two decades of strong economic growth, Cambodia has attained the lower middle-income status as of 2015, with gross national income (GNI) per capita reaching $1,070. Driven by garment exports and tourism, Cambodia has sustained an average growth rate of 7.6% in 1994-2015, ranking sixth in the world. Economic growth is expected to remain strong over the next two years (6.8% in 2017 and 6.9% in 2018) as recovering tourism activity coupled with fiscal expansion compensate for some moderation in garment exports and construction growth. The Cambodian stance on foreign investment is one of the most open in developing Asia. Full foreign ownership is allowed for any business in any industry, with foreign businesses receiving the same treatment as their local counterparts. Transportation, telecommunication, energy and human resource businesses are being promoted in order to support the overall development of Cambodia. Most of these industries are still at an early stage of advancement, meaning there is great potential for entrants to grow and shape the market with their offering. These industries are likely to grow at a rapid rate as Cambodia itself progresses socially and economically. Further, firms in the tourism industry are being encouraged to invest in Cambodia. Over five million foreign tourists visited Cambodia in 2016, a five percent increase on the previous year. In spite of these achievements, Cambodia still faces a number of development challenges, including the need for good quality public service delivery, inclusive development, better land administration and natural resources management, environmental sustainability, and good governance.

Republic of India

India is the world's largest democracy and second-most populous country. The total population of India was 1.3 billion, of which 29.2% of the population are 0-14 years old, 65.3% of the population are 15-64 years old and 5.5% of the population are over 65 years old. According to UN estimates, its population is expected to overtake China's in 2028 to become the world's most populous nation. The economy of India is a developing mixed economy. It is the world's sixth-largest economy by nominal GDP ($2.439 trillion). In 1991, India government initiated a program of economic liberalization and reform, opening up the economy to global trade and investment. In the first 10 years of the twenty-first Century, the average growth rate of GDP in India reached 8.5%. After the international financial crisis in 2009, India's economy had a strong recovery. The GDP growth rate remained above 7%. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. India ranks second worldwide in farm output. Slightly less than half of the workforce is in agriculture but contributes to a declining share of its GDP (17.4% in 2016). India has one of the fastest growing service sectors in the world with an annual growth rate above 9% since 2001. India has become a major exporter of IT services, Business Process Outsourcing (BPO) services, and software services with $154 billion revenue in FY 2017. This is the fastest-growing part of the economy. The IT industry continues to be the largest private-sector employer in India. India is the third-largest start-up hub in the world with over 3,100 technology start-ups in 2014–2015. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services, business outsourcing services, and software workers. The industry sector has held a steady share of its economic contribution (28.8% of GDP in 2016). The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in 2013–14. India had $600 billion worth of retail market in 2015 and one of the world's fastest growing e-commerce markets. In the short term, India's economy is under the pressure of high financial deficits, high inflation, high interest rates, and devaluation caused by capital outflows. However, the long-term growth prospective of the Indian economy is positive due to its young population, corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy.

Lao People's Democratic Republic

Laos is a landlocked, mountainous country, widely covered by largely unspoilt tropical forest. Less than 5% of the land is suitable for subsistence agriculture. It is a lower-middle income economy with a GNI per capita of $2,150 in 2016, one of the fastest growing economies in the East Asia and Pacific region and globally. The total population of Laos is 6.4 million. Most Laotians live in rural areas, with around 80% working in agriculture mostly growing rice. Lao PDR is a French colony until 1953, the power struggle which ensued between royalists and the communist group Pathet Lao also saw the country caught up in the Vietnam War. Communist forces overthrew the monarchy in 1975, heralding years of isolation. After the fall of the Soviet Union in the 1990s, Laos began opening up to the world. The Laotian economy has shown notable resilience, growing at an average annual rate of more than 7 percent over the past five years with the use of the country’s natural resources – mostly water, minerals and forests – contributing around one third of this growth. Economic growth remains vibrant in 2017, though slower compared to earlier years. Laos continues to integrate more fully into the system of global trade and investment. Laos is banking on returns from a number of hydropower plant projects to boost its economy and infrastructure. A further significant upgrade to Laos' infrastructure is expected with the construction of the first high-speed rail line between China and Laos.