Bangladesh has moved two steps up in global competitiveness rankings for better performance in fields like macroeconomic environment, health, education and infrastructure, according to a latest finding.
The country was ranked 107th in the Global Competitiveness Report 2015 –two notches up from last year’ 109th stand. But, the Centre for Policy Dialogue (CPD), which has carried out the opinion survey on behalf of the Geneva-based World Economic Forum (WEF), terms the latest development a slight ‘deceleration’ in relative terms. This is a yearly report of the WEF based on the global competitiveness index (GCI). It was released in Bangladesh Wednesday.
The GCI is an index of weighted average of 12 pillars with moving average of two years to avoid risk of bias in responses.
Bangladesh has advanced mainly due to better performance in basic requirements,” Dr Khondaker Golam Moazzem, additional director at the Centre for Policy Dialogue (CPD), said at the report- launching programme in the city.
However, significant deterioration is observed in few indicators — institutions at 132 (2015) from 131, financial market sophistication at 90 (2015) from 88 and goods market efficiency at 101 (2015) from 84.
“In relative terms, Bangladesh’s ranking has slightly decelerated although in absolute terms, Bangladesh’s overall score has increased by 1.1 per cent this year,” Dr Moazzem said at the press briefing.
The original survey was based on the 140 uniform set of questionnaires applicable for all 140 countries across the globe.
The report identified the most problematic factors for doing business in the country.
As per respondents’ replies, the most problematic factors for doing business were corruption, inadequate supply of infrastructure, government instability, inefficient government bureaucracy, access to finance, policy instability, inadequately educated workforce, tax rates and others.
But the CPD, which has been partnering with the WEF since 2001, also conducted another qualitative survey on some select entrepreneurs, styled rapid assessment survey.
According to the survey (rapid assessment survey), some 62 per cent mentioned that investment environment will not be favorable.
Nearly one-fourth of the respondents mentioned that their export-import business was badly affected by the recent political violence.
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