Inefficiency in Government administration has for the first time been identified as the topmost factor by entrepreneurs as a barrier towards doing business in Bangladesh in 2019.
This is as per the World Economic Forum’s (WEF) Global Competitiveness Report 2020, the Bangladesh part of the report of which was released by the forum’s local partner, the Centre for Policy Dialogue (CPD), on 17 December at an online press meet.
Apart from inefficient bureaucracy, entrepreneurs, reportedly, identified limited access to finance and corruption as key barriers towards doing business in last year.
Inadequate infrastructure and corruption were earlier at the top of the list of barriers towards doing business in Bangladesh, reportedly, underlined CPD Research Director Khondaker Golam Moazzem who went on to add that inefficiency of bureaucracy and extra time and cost for public services increase the overall cost of doing business, entrepreneurs, surveyed for the report, maintained.
Popularly known as Davos Forum, WEF has been publishing the Global Competitiveness Report since 1979, while the CPD has been carrying out the Bangladesh part of the report since Bangladesh was included in it in 2001.