• Friday, Feb 26, 2021
  • Last Update : 02:23 am

Taking care of business

  • Published at 12:05 am September 29th, 2019
Hand shake

Improved trade links and special economic zones are crucial

It is wonderful to see that Bangladesh is one of the top 20 improvers when it comes to the ease of doing business in 2020, according to the World Bank.

This improvement, according to WB, is down to a number of factors, like the country’s efforts to make it easier for entrepreneurs to start a business, obtain electrical connections, and access credit. Bangladesh has also lowered the name clearance fee needed in order to register new companies, abolished digital certificate fees, and reduced registration fee calculations based on share capital.

In order for the Bangladesh economy to move ahead at full speed, few things are more important than improving the ease of doing business, and in this regard, the World Bank’s report is encouraging. However, we must also keep our eye on the ball.

For a long time, our economy has underperformed because of unnecessary and frustrating regulatory barriers to doing business -- while the creativity and hard work of our entrepreneurs have paid off as seen in our admirable growth numbers, there is still much potential that remains untapped.

We can build on the improvement we have already made by increasing the reliability of power connections, getting rid of corruption, and making it easier to enforce contracts by improving the court system, as well as by speeding up registration procedures through digitization.

Improved trade links and special economic zones are crucial to creating a climate conducive to business for foreign investors.

With the right kind of business environment, one that helps rather than hurts the business community, Bangladesh can achieve truly great things. 

Facebook 52
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail