• Tuesday, Nov 24, 2020
  • Last Update : 01:29 am

WB: Bangladesh in top-20 improvers in doing business in 2020

  • Published at 05:23 pm September 27th, 2019
World Bank
Logo of the World Bank

The country has implemented various reform initiatives to make a business-friendly environment

Bangladesh has made it to the top-20 improvers in doing business in 2020 as the country has implemented various reform initiatives to make a business-friendly environment, according to the World Bank (WB).

As per the multi-donor bank report – available on its website – Bangladesh made it easier for entrepreneurs to start a business, obtain an electrical connection and access credit.

Among other initiatives, Bangladesh lowered the name clearance fee for new company registration, abolished digital certification fees and reduced registration fee calculations based on share capital, reports BSS.

In Dhaka, the electricity supplier cut the security deposit for a new connection by half and undertook major investments to expand its staffing and digitization of processes; licensing times by the office of electrical adviser and chief electrical inspector were also reduced.

Bangladesh’s credit information bureau improved access to credit, by expanding its coverage to include five years of records and data on loans of any amount.

According to the report, the other improver countries are Azerbaijan, Bahrain, China, Djibouti, India, Jordan, Kenya, Kosovo, Kuwait, the Kyrgyz Republic, Myanmar, Nigeria, Pakistan, Qatar, Saudi Arabia, Tajikistan, Togo, Uzbekistan and Zimbabwe.

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