Sunday, 3rd December, 2023
Sunday, 3rd December, 2023

Twelve recommendations for making business more competitive

Some 12 strong recommendations were made including strengthening of infrastructures, enhancing use of technologies, building skilled human resources, simplifying the financing system and foreign trade, ensuring competition among the local businessmen to make the country’s businesses more competitive.

The recommendations were made from the Global Competitiveness Report 2020 which was released today. The Centre for Policy Dialogue (CPD) on behalf of the World Economic Forum (WEF) released the report. Besides, the CPD released its own report based on a survey highlighting the business environment in the country.

The WEF this year did not revealed the Global Competitiveness ranking due to the COVID-19 pandemic.

But, surveys were conducted based on the opinions of the business community to know about the problems that hinder the flourish of the businesses. The CPD conducted the survey in Bangladesh on behalf of the WEF.

They took opinions of chief executives of some 55 firms which have assets over Taka 10 crore. The civil society think tank revealed the two reports through a virtual press conference today.

CPD Research Director Khondaker Golam Moazzem highlighted various aspects of these two reports.

He said that the businessmen in the survey put emphasis on strengthening the business infrastructures, increasing the use of technologies, simplifying the financing system, creating skilled Human Resources, simplifying the process for receiving government services and boosting the capacity of government administration to further improve the business environment.

CPD Distinguished Fellow Df Mustafizur Rahman said there is a need for increasing the use of technologies to enhance the competitiveness. On the other hand, he said there is a need for skilled government administration side by side due emphasis should be given on ensuring good governance.

CPD Executive Director Dr Fahmida Khatun said the ease of doing business index should be further improved to ensure a skilled and development oriented economy.

She also opined for bringing in various kinds of transformations in the trade and commerce considering the COVID-19 pandemic.

Surveys were conducted on a total of 142 countries to make this edition of the Global Competitiveness Report.

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