The New Nation - Internet Edition

THE lower position of Bangladesh in the latest Global Competitiveness Report (GCR) on the business environment in 134 countries does not signify much change either way about doing business in this country. What the latest position in the index tells about Bangladesh is stagnancy notwithstanding that some purposive steps were taken by the government to change things for the better. These efforts on the part of the government were noted in the GCR. But the same in no way changes facts that still big delays are encountered in Bangladesh on average to get construction permits, in paying taxes, in exporting and importing and in just registering property.

The indicators of business conditions are nowhere so impressive as to attract significantly stepped up investment operations. The same need to improve substantially for creating a major stimulus among the investors.

Two initiatives by the present government - the Better Business Forum (BBF) and the Regulatory Reforms Commission (RRC) were launched last year with the aims of bringing together government functionaries at the highest level and business leaders under a consultative and institutional framework to facilitate businesses and of doing away with obsolete business hazarding laws. But both these entities have remained rather limited in their activities so far.

As the government's tenure is fast coming to an end, it needs to give a last big push to at least create conditions for the next elected government to ensure that the latter can go to work for the taking off of major projects in the energy sector. It should do the same in paving the way for major infrastructure building in support of investment operations under the next government. Good energy supply and infrastructures are considered too vital for business expansion in Bangladesh.