We must improve our ease of doing business ranking
It is extremely disappointing to learn that Bangladesh ranked as the third worst-performing country in the Greenfield FDI Performance Index 2020, providing a much-needed wake up call to the authorities concerned that, while our progress may indeed be solid, there remain some integral issues that still need to be addressed.
The rankings, which measure FDI relative to the size of each country’s economy and only take into account greenfield investment -- excluding mergers and acquisitions, intra-company loans, and other forms of cross-border investment -- have painted a grim picture of Bangladesh as a nation that is not investment-friendly.
Bangladesh’s economic ambitions are undoubtedly lofty, both in the short term and the long term; it plans to achieve middle-income status this decade, and by 2041, wants to become a developed country. Such ambition, however, will require assistance to fulfill, and FDI will play a key role.
We have editorialized numerous times on the dismal ranking of Bangladesh when it comes to ease of doing business, and no doubt that it is having a detrimental effect in attracting FDI.
To that end, the onus is now on our leaders to ensure that Bangladesh is indeed touted as an attractive destination for setting up businesses and investing into.
We must improve our ease of doing business ranking and make the environment as friendly as possible for businesses and potential investors.
The government has made attempts at fixing the issues, with incentives and economic zones, but it is clear that we have plenty of work left to do.