• Thursday, Feb 25, 2021
  • Last Update : 04:32 pm

ED: Helping businesses flourish

  • Published at 01:24 am December 20th, 2020
Investments
Bigstock

What is required above everything else is a favourable business climate that not only encourages investment from foreign investors, but encourages entrepreneurs within Bangladesh itself

If Bangladesh is indeed to take the next step in its development journey and fulfill its lofty economic ambitions, it cannot do so without the business community flourishing and reaching its full potential. 

For that, what is required above everything else, is a favourable business climate that not only encourages investment from foreign investors, but encourages entrepreneurs within Bangladesh itself to invest in the country and open new businesses. 

However, it is extremely disappointing that, despite Bangladesh’s stupendous growth numbers over the past decade or so, our entrepreneurs and businesses continue to face challenges with regards to ease of doing business due to multiple factors -- the primary of which has been identified as inefficiency in government administration.

Administrative inefficiency has been identified as institutional incapability to deliver services on time, prevailing corruption in providing services, unethically awarding contracts, and failure of officials to understand government policy. 

This recent finding corresponds with Bangladesh continuing to struggle in the Ease of Doing Business ranking, where it ranked 168 out of 190 nations in the most recent index, and it is disheartening that we continue to be held back from our potential as a flourishing economy, simply because we cannot shake off corruption, negligence, lack of accountability, and unnecessary bureaucracy from within.

Enough is enough. It is about time the authorities took a long hard look at our service delivery and institutions, and weed out the problem elements from within. We need these institutions to cooperate and communicate with the business community, and indeed, everyone must be trained to adopt technological solutions. 

Bangladesh has come much too far, and we cannot afford to let be held back from achieving our eventual goals due to these fundamental issues any longer.

67
Facebook 67
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