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29 September, 2016 00:00 00 AM
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WEF Global Competitiveness Report 2016-2017

Bangladesh moves up one step

Staff Reporter
Bangladesh moves up one step

Bangladesh has moved up one step in the Global Competitiveness Report 2016-2017 of the World Economic Forum (WEF). It now ranks 106th among 138 countries this year.
The overall score, too, has also improved. It was up by 1.06 per cent, from last year's 3.76 to 3.80.   
The Centre for Policy Dialogue (CPD), partner organisation of the WEF, yesterday (Wednesday) presented the report at the CIRDAP auditorium in the capital. The CPD conducted the Bangladesh chapter of the study.
Over 160 partner institutes, 14,000 executives from over 138 countries, participated to make the survey feasible. Executive opinion survey and rapid assessment survey used qualitative data, measuring seven points on the Likert Scale.  
“The method of the survey tool, executive opinion survey (EOS), comprises 11 topics including infrastructure, technology, financial environment, foreign trade and investment, business operations and innovation, security, governance, education, health,” said the additional research director of the CPD, Dr Khondaker Golam Moazzem, who was also the presenter at the briefing.     
“Bangladesh has done comparatively well in the domestic sector. But could not do well in the global competitive business environment. Bangladesh is still an underperformer in the basic requirement sub-index, but the progress in ranking is noticeable. Here it moved up to the 105th position this year, as against previous year's 109th,” he noted.
“In macroeconomic stability pillar, Bangladesh slid to 65th from the 49th position. Bangladesh has done well in terms of scoring indexes, but comparative ranking is not satisfactory at all,” the additional research director observed.
“This report reveals that businessmen are more concerned about cost of borrowing (interest rate) than availability of funds. They thought that electricity supply is comparatively less reliable. It is depicted as 51 per cent this year,” he said.
“Last year, the top problematic factors for doing business in Bangladesh was corruption, which scored 18.7. But this year, 'inadequate supply of infrastructure' got the top score of 20.4 and ranked as the top factor,” he added.
“Among the top 10 countries, Switzerland, Singapore and the United States held their previous positions and ranked as the top three countries,” he said.
“Among the South Asian countries, India has jumped from the 55th to the 39th position, which is remarkable. Good infrastructure is the prime reason behind it. Sri Lanka and Malaysia have moved back and ranked as 68 and 18, respectively, this year,” he added.
For Bangladesh, the other problematic factors were corruption (16.5), limited access of financing (9.8) and inefficient government of bureaucracy (9.6).  
Entrepreneurs have observed only a little a progress in infrastructure facilities in 2015, except electricity.
“The problems that we unveil in this report need to be addressed if we (Bangladesh) want to graduate from the lower middle-income country to the higher-middle income country status,” said CPD executive director Prof. Mustafizur Rahman.
“In the technology sector, Bangladesh has improved a lot. The index ICT is improving access for all citizens to basic services. It has improved from 'bad' (57 per cent) last year to 'good' (40 per cent) this year,” he explained.  

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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