The interim government came to power with the promise of reform, especially the reform of institutions left in a state of abject paralysis by the previous government. While institutions such as the Anti-Corruption Commission are now more pro-active than ever, it must start carrying out increased operations at some of the most frequently cited administrative offices to root out corrupt elements.
At the end of the day, not being pro-active about rooting out corruption ultimately leads to it being further enabled as unscrupulous elements seize opportunities to profiteer at every level. This ultimately comes at the cost of a thriving business environment, as investors -- both foreign and local -- seeking predictable and transparent regulatory frameworks, are often discouraged by a business landscape inundated by corruption.
Corruption has long been considered the biggest stumbling block keeping Bangladesh from fulfilling its economic and development ambitions, and despite the downfall of the previous Awami League government, under whose misrule corruption only further flourished, it still remains a major obstacle deterring investment and hindering the ease of doing business.
According to a recent Daily Star report, citing eminent business figure Md Alamgir Kabir in an interview, corruption is still highly prevalent in the country with businesses still having to contend with rampant bribery and bureaucratic red tape. Despite promises of services free from any hindrances, actions such as acquiring land for industrial purposes remain mired in a bureaucratic sinkhole.
Given just how much of a challenging position the Bangladeshi economy finds itself in at this moment, we need businesses to thrive, not just survive.
