Bangladesh losing contests ability in the economic index

To lead the contests ability is a major prerequisite for economic development. In this sector going back in Bangladesh. This is frustrating, especially when you know that, in spite of the lack of political willingness, we cannot continue. Geneva based the world’s leading economic research institutions The World Economic Forum published ‘Global competitiveness report by 012-13 ‘, the efficiency index of World Competition Bangladesh in the 118th position among the 144 Countries. Bangladesh score is 3.65 out of 7. In the case of more than one year, Bangladesh downed 10 steps. In the previous time the position was go back, but score was increased, but now also this score declined as well. The index is based on the conversation with businessman; there are some big problems with business management. These are –

  • poor infrastructure,
  • corruption,
  • Not getting the investment money,
  • The principle of continuity and change,
  • Inflation,
  • Political unrest,
  • Losing the money value,
  • Lack of trained staff,
  • Tax system complications,
  • Lawlessness,
  • Lack of ingenuity,
  • Labor law restrictions,
  • Weak public health service etc.

It is not unknown to anyone. However, there are some problems, which is sufficient to resolve the political parties’ honest willingness.

We acknowledge infrastructure vulnerabilities are the big obstacle for investment and production growth. Besides of gas – electricity problem the weak governance as well as in the economy, For corrupted weak regulatory oversight of the financial sector and political commitment for action in case of the absence of competition Privacy Bangladesh. In terms of international standards the economic market quality is weak. Become difficult to get loans for investment. Difficult to obtain capital form the share market. What is the limitation of the fiscal year, despite hundreds of billions of dollars in foreign investment exceeded? It is understood, to stay ahead in the contests ability need to the foreign currency increasing more. Irregularities in administration – corruption are the big barrier.

To raise contests ability and to maintain emergency problem need macro-economic status. The policy of macro-economy, in order to organize the financial sector, increase efficiency of the state organizations, strict measures against corruption and infrastructure sector projects Timely implementation will be emphasized. And above all, it should be emphasized to achieve political stability. The possibility exist those different aspects. Low wages and transfer money to invest in the country is the center of attraction of investments. Skilled labor force and reconstitute the further advancement of technology expansion. Over the past few years to achieve continuous growth in the fiscal year after the fall has been observed, something that can be seen by reflection Contests efficiency index. There is nothing to be disappointed. There has no very poor position compared to neighboring countries for Bangladesh. Because of many low – mid and long-term planning has been adopted here like Padma Bridge Project Implementation, Road – river – the river and railroad development, ports – gas – electricity infrastructure development etc. The quick and fair evidence is the way to prove ability. The government will always play a bigger role according to their wish list.

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