BSS, Dhaka :
A latest World Bank (WB) report finds Bangladesh eases procedure for doing business by adopting modern technology and reforming regulatory framework, making it easier for local entrepreneurs to do business.
Three countries in South Asia namely Bangladesh, Nepal and Pakistan focused their efforts on adopting modern electronic systems to facilitate business activity, the WB annual report titled, ‘Doing Business 2015: Going Beyond Efficiency’, said the report.
Released today (Wednesday), the report placed Singapore on the top of the global ranking on the ease of doing business. Besides Singapore, the top 10 economies with the most business-friendly regulatory environments are New Zealand, Hong Kong, Denmark, the Republic of Korea, Norway, the United States (US), the United Kingdom (UK), Finland and Australia.
The first seven countries in the table maintained their previous positions when the UK advanced one notch up to the 8th position, replacing Finland to the 9th. The ranking of Australia also remained unchanged at the 10th place.
Among the 189 countries rated, the bottom five countries are: Chad, South Sudan, Libya, Central African Republic and Eritrea.
Bangladesh was placed at 173rd position, which was 170th last year. The country, however, advanced in the “Distance to Frontier (DTF), a scale that shows how close each economy is to global best practices in business regulation.
A higher score indicates a more efficient business environment and stronger legal institutions. On the DTF scale, Bangladesh achieved 46.84 points this year against the previous year’s 46.38 points.
The report notes that the country made trading across borders easier by introducing a fully automated, computerized customs data management system, ASYCUDA (Automated System for Customs Data) World.
It said Bangladesh and Pakistan made trading across borders easier by implementing computerised systems that allow web-based submission of documents, reducing the time to export and import.
“We are encouraged by the modernization of regulatory processes in South Asia because it is benefiting local entrepreneurs,” said Rita Ramalho, Doing Business report lead author, World Bank Group.
The report finds that since 2005, all economies in the region have taken steps to improve the business environment in areas measured by the report. India implemented the region’s largest number of regulatory reforms with 20, followed by Sri Lanka with 16.
This year, for the first time, Doing Business collected data for a second city in economies with a population of more than 100 million. In Bangladesh, it now analyzes business regulations in Chittagong and Dhaka.
The report this year expands the data for three of the 10 topics covered, and there are plans to do so for five more topics next year.
A latest World Bank (WB) report finds Bangladesh eases procedure for doing business by adopting modern technology and reforming regulatory framework, making it easier for local entrepreneurs to do business.
Three countries in South Asia namely Bangladesh, Nepal and Pakistan focused their efforts on adopting modern electronic systems to facilitate business activity, the WB annual report titled, ‘Doing Business 2015: Going Beyond Efficiency’, said the report.
Released today (Wednesday), the report placed Singapore on the top of the global ranking on the ease of doing business. Besides Singapore, the top 10 economies with the most business-friendly regulatory environments are New Zealand, Hong Kong, Denmark, the Republic of Korea, Norway, the United States (US), the United Kingdom (UK), Finland and Australia.
The first seven countries in the table maintained their previous positions when the UK advanced one notch up to the 8th position, replacing Finland to the 9th. The ranking of Australia also remained unchanged at the 10th place.
Among the 189 countries rated, the bottom five countries are: Chad, South Sudan, Libya, Central African Republic and Eritrea.
Bangladesh was placed at 173rd position, which was 170th last year. The country, however, advanced in the “Distance to Frontier (DTF), a scale that shows how close each economy is to global best practices in business regulation.
A higher score indicates a more efficient business environment and stronger legal institutions. On the DTF scale, Bangladesh achieved 46.84 points this year against the previous year’s 46.38 points.
The report notes that the country made trading across borders easier by introducing a fully automated, computerized customs data management system, ASYCUDA (Automated System for Customs Data) World.
It said Bangladesh and Pakistan made trading across borders easier by implementing computerised systems that allow web-based submission of documents, reducing the time to export and import.
“We are encouraged by the modernization of regulatory processes in South Asia because it is benefiting local entrepreneurs,” said Rita Ramalho, Doing Business report lead author, World Bank Group.
The report finds that since 2005, all economies in the region have taken steps to improve the business environment in areas measured by the report. India implemented the region’s largest number of regulatory reforms with 20, followed by Sri Lanka with 16.
This year, for the first time, Doing Business collected data for a second city in economies with a population of more than 100 million. In Bangladesh, it now analyzes business regulations in Chittagong and Dhaka.
The report this year expands the data for three of the 10 topics covered, and there are plans to do so for five more topics next year.
