Global competitiveness
Bangladesh has again failed to uphold its global business competitiveness index exhibiting a downward trend that reflects country's miserable investment climate. Except for a few indicators such as- training and education, and financial market sophistication, most of the indicators show a deteriorating position. For the economic development of the country, it is mandatory to have a congenial business climate where various factors that are relevant to business and commerce are stable and ensured in the most efficient manner. Major indicators such as- macro-economic stability, higher education and training, market size, and innovation have not shown any significant improvement, whereas other indicators have either deteriorated or remained somewhat stable at a lower level. But the major blow was infrastructure that has shown a significant downward trend. Infrastructure is the most important element for the economic development of a country. But it is a matter of great regret that our infrastructure facilities have been rather downgraded over time than to have shown any sustainable, better outlook. Transportation system remains inefficient. There has been a huge power shortage in the country prevailing for a long time but the authorities concerned have not taken any effective measures yet. We have to keep in mind that trivial improvement is not the solution, as our competitors, like Vietnam, Indonesia and some other countries, are doing better than us and grabbing all the opportunities. But it shouldn't have happened. We have a huge and cheap labour force along with a sizable demand for goods and services in the country.
Therefore, we expect that our government would take appropriate measures to eliminate all the obstacles in order to have a better business climate in the future.
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