Kathmandu March 22, 2011: Samriddhi, The Prosperity Foundation in Nepal made public the “2011 International Property Right index (IPRI)” here in a brief ceremony at Singha Hotel, Kathmandu. The IPRI is the flagship publication of the Property Right Alliance (PRA). The 2011 International Property Rights Index (IPRI) is an international comparative study that measures the significance of both physical and intellectual property rights and their protection for economic well-being. The IPRI scores and ranks each country based on 11 factors reflecting the state of its Legal and Political Environment (LP), Physical Property Rights (PPR) and Intellectual Property Rights (IPR). The 2011 edition contains the ranking of 129 economies, which represents 97 percent of the world GDP.
In its effort to produce the IPRI, the PRA has secured the support of 67 think tanks and policy organizations in 53 countries involved in research, policy development, education, and promotion of property rights in their countries.
According to the report, Finland and Sweden tie for the top spot in this year’s index with a score of 8.5 out of the possible 10. Other Scandinavian countries that have also performed well are Norway (8.2), and Denmark (8.1). Following them other countries like Singapore (8.3), New Zealand (8.2), Australia (8.0), Luxembourg (8.2), Switzerland (8.2), Netherland (8.0), and Canada (8.0) were marked the top scoring group. Similarly, in the bottom Bolivia scored 3.6, Moldova (3.9), Nigeria (3.9), Cote D’ Ivory (3.7), Libya (3.7), Angola (3.6), Burundi (3.6), and Bangladesh (3.6). Looking at Nepal, the index remained stagnant from 2008 until 2011 at 4.0 but this year the index has a score of 4.4 out of 10 in overall property Right status where it has scored 3.2 in Legal and Political Environment (LP), 5.8 in Physical Property Rights (PRP) and 4.1 in Intellectual Property Rights (IPR). Amid this index Nepal lies in the 100 position out of the 129 nations which is the 20 percent of the quintile.
Speaking at the program Prateek Pradhan, the Chief Editor of the Karobar Daily, said, “Our system is complex like such our rules, regulation and operational mechanism itself is complex, so media plays a cruel role in making the public aware about issues like these. It is our responsibility to make it heard and to raise the question of vitality. In a situation and condition like this Nepal’s gaining growth certainly highlights a positive aspect but we further need to look at our neighbors index where we need to work towards strengthening the economy and legal system.”
Samriddhi, the Prosperity foundation is a public policy consultant which was established in the year 2006 and from then it has been working in the field creating awareness and concepts of better economic revolution.
Compiled by Shreedeep Rayamajhi