• Thursday, Dec 08, 2022
  • Last Update : 10:24 am

ED: Improving our business environment

  • Published at 06:07 pm September 9th, 2021
Business
BIGSTOCK

In South Asia, when it comes to attracting foreign investment, Bangladesh is only ahead of Afghanistan

In order for Bangladesh’s economic growth to continue in the future, we must first create a business environment that is not just properly regulated, but also open to innovation and change, and adaptive to the various ways in which global business is progressing.

But, in this regard, thanks to the presence of arbitrary regulatory implementations, an overwhelming amount of bureaucratic red tape, and widespread corruption within some of our key public institutions, Bangladesh has continuously driven new businesses and investment away.

This has caused to foreign direct investment into the country to suffer greatly, and while there has been an increase up until recently, FDI fell by 11% last year. The pandemic has undoubtedly been one of the major factors, but there is no denying that, even before the pandemic, Bangladesh was faring poorly in the Ease of Doing Business Index, ranking 168th out of 190 countries, a poor position to be in under any circumstances.

As such, it is not surprising to find that, in South Asia, when it comes to attracting foreign investment, Bangladesh is only ahead of Afghanistan, a war-ravaged nation that has most recently been taken over by the Taliban.

What we lack is any sort of proper legal framework to address disputes that might occur, not to mention regulatory bodies which act based on arbitrary whims and an utter lack of accountability, creating an environment that many foreign investors would find hostile to sustainable growth.

If we are to have any hope regarding our sustainable development in the future, this is one of the key areas we must improve ourselves in order attract investment from foreign shores that will allow our country to keep growing.

63
Facebook 63
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