• Thursday, Dec 12, 2019
  • Last Update : 09:36 pm

Making business easy

  • Published at 11:54 pm October 25th, 2019
Growth technology
Photo: BIGSTOCK

We cannot dream of a better nation while the country suffers at the hands of corrupt business practices

There is some encouragement to be found in Bangladesh’s recent improvements in the World Bank’s Ease of Doing Business Index, in which we are now ranked 168th. 

But whatever encouragement we may get is minimal, because our improvement is overshadowed by our neighbours, who are ranked much higher on the list, with India at 63 and Pakistan at 108 -- only Afghanistan ranked lower than us in the region.

On the one hand, our development goals, economic or otherwise, are ambitious, and we as a nation have, to a great extent, taken great strides in this direction.

Then again, there has been little to no change in infrastructure, the pervasive eco-system of corruption inside and outside of governance, the utter lack of organization, the undeniable cost of a broken traffic system, and others, which would allow for these developmental ambitions to take root and allow true change to arrive. 

As such, it comes as no surprise that, in a recent report, experts have highlighted Bangladesh’s ranking in the index as a major obstacle to progress, determining that we need to move up by more than a 100 spots in the rankings if we are to have any hope of becoming a developing nation any time soon.

Our GDP has, indeed, continued to expand, but to what extent is this growth sustainable? To what extent is this growth a signifier of actual improvements in the lives of the people who live here, and in the workings of the entrepreneurs who wish to invest here? 

We cannot dream of a better nation while the country suffers at the hands of corrupt business practices and bureaucratic red tape -- we must prioritize making greater improvements in these areas, and fast.