Saturday, November 25, 2017

BIDA, World Bank hold workshop on ease of doing business in Bangladesh

  • News Desk, bdnews24.com
    Published: 2017-04-18 19:55:11 BdST

bdnews24

The Bangladesh Investment Development Authority or BIDA and the Trade and Competitiveness Global Practice of the World Bank Group held discussions to find ways to improve Bangladesh’s business ranking.

A workshop held between Apr 10 and Apr 13 brought together key policymakers and stakeholders from 40 government and private sector agencies to talk about the feasibility of suggested reforms.

“Improving Doing Business global rankings can prove to be a catalyst for the government of Bangladesh to modernise the regulatory quality and governance, and establish an image as an investment friendly destination for potential local and foreign investors,” BIDA said in a statement on the event.

Over the four days, the guests have discussed methodologies of Doing Business Index, starting businesses, getting credit, resolving insolvency and enforcing contracts, dealing with construction permits and trading across borders, among other topics.

Bangladesh has gone up two places in the World Bank's latest ranking of ease of doing business. But the country still ranks 176 among 190 economies in the study. Bangladesh aims to take the ranking to double digits by 2021.

Analysts suggested Bangladesh increase private investment in productive sectors and diversify its export basket to strengthen investment competitiveness and achieve the necessary 7-8 percent sustained growth.

The programme also facilitated dialogue on legal and regulatory reforms.