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10 October, 2019 12:38:53 AM
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Bangladesh slips 2 positions

GLOBAL COMPETITIVENESS INDEX
UNB, Dhaka
Bangladesh slips 2 positions

Bangladesh has slipped two positions and ranked 105th among 141 countries this year in the World Economic Forum's Global Competitive-ness Index.

Bangladesh ranked 103 last year among 140 countries.

Dr Khondakar Golam Moazzem, Research Director of Centre for Policy Dialogue (CPD), revealed the information while presenting the report in the capital yesterday.

CPD has been releasing the report since 2001.

Singapore ranked first while Malaysia is in a good position among Asian countries, Moazzem said.

“Bangladesh’s weaknesses are in business dynamism, labour market, product market and skills,” he said.

He suggested the government to further increase investment in ICT sector and emphasise labour skills development.

BSS adds: India ranked top among the South Asian countries securing the 68th position with score 61.4, Sri Lanka ranked 84th with score 57.1, Nepal 108th with score 51.6 and Pakistan 110th with score 51.4.

A total of 12 determinants, including institutions, infrastructure, ICT adoption, macroeconomics stability, health, skills, product market, labour market, financial system, market size, business dynamism and innovative capability, of a country are estimated to make the GCI report.

At the press conference, CPD also unveiled the findings of the study on “The Bangladesh Business Environment Study 2019”.

While presenting the findings of the study, Golam Moazzem said Bangladesh should address four key challenges to ensure business-friendly environment and improve its position in the Global Competitiveness Report.

At first, he said, Bangladesh should provide more focus on improvement of the governance and institutions, infrastructure, financial system and business operations.

“Lack of preparedness for fourth industrial revolution (4IR) technologies, absence of necessary regulatory framework and skills and no clear pathways for businesses are the emerging concerns,” he added.

The CPD research director also pointed out that emerging market risks pose additional burden for businesses, like rise in energy price, failure in urban planning, underemployment, failure to climate change adaptation and industrial pollution.

Moazzem underscored the need for massive regulatory reform targeting public services, financial sector and public sector enterprises with a view to ensuring efficiency, accountability and transparency.

“Bangladesh’s weaknesses are in business dynamism, labour market, product market and skills,” he said.

He suggested the government to further increase investment in ICT sector and emphasise labour skills development.

He urged the authorities concerned of the different regulatory bodies and

business facilities public organisations to be proactive and effective in delivering services.

Lastly, he said, Bangladesh should also address the challenge of ensuring macroeconomic stability to make the country as a developed one.

Among others, CPD Executive Director Dr Fahmida Khatun and Senior Research Fellow Towfiqul Islam Khan were present on the occasion.

EA

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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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