In the current financial year 2023-24, the business environment in the country has further deteriorated. This time, the score achieved in the business environment index is 58.75, which was 61.95 in the last fiscal year 2022-2023. This information has emerged in the Business Climate Index (BBX) for the current financial year.
On Thursday (May 30) the image of this survey was presented at the Gulshan office of MCCI. The BBX survey was conducted for the third time by Metropolitan Chamber of Commerce and Industry (MCCI) and private research institute Policy Exchange Bangladesh. This index has been created through a survey among businessmen.
Prime Minister’s Advisor on Private Industries and Investment Salman F. Rahman was present as the chief guest in the program organized on this occasion. MCCI President Kamran T Rahman presided over the event and MCCI leaders along with former MCCI President Barrister Nihad Kabir were present.
Chairman of Policy Exchange Masroor Riaz read the keynote at the Business Climate Index launch event.
In the survey of the current fiscal year 2023-2024, the points achieved in the business environment index are 58.75. The index achieved in the last fiscal year 2022-2023 was 61.95 points. As such, the business environment score has decreased by 3.2 percent over the course of a year. The survey was conducted on 12 sectors. These include agriculture and forestry, electronics and light engineering, construction, financial intermediation, food and beverages, leather and tannery, pharmaceuticals and chemicals, apparel, textiles, housing, transportation, retail and wholesale trade.
Amazon-Boeing wants to do business in Bangladesh: Minister of State for Commerce Business expansion should reduce taxes Business and business start-up, availability of land, access to legal information, infrastructure facilities, labor regulation, dispute settlement, trade facilitation, tax payment, technology adoption, availability of credit and environmental regulation and standards – are surveyed based on these 11 indicators. This time the worst among the 11 indicators is the credit availability index. The score in this index is 28.11. In last year’s survey, it was said that getting bank loans for businessmen has become complicated. Earlier in the financial year 2021-2022, the overall business environment index score was 61.01 out of 100, which slightly increased to 61.95 in the 2022-23 financial year. The main reason for the lack of significant progress in the 2022 index mean was that 4 of the 10 indicators were deteriorating, while the rest were improving.
Bangladesh did the best in infrastructure in 2023, as in 2022, with a score of 71.08 out of 100. Moreover, 62.74 in business start-up index, 53.11 in land availability, 68.04 in information access to laws and regulations, 70.04 in labor control, 62.38 in dispute resolution, 63.50 in technology adoption, 60.87 in trade facilitation, tax payment 54.74 and environmental control and means 51.59.
MCCI president Kamran T Rahman said that the survey was done to understand the overall business environment of the country. What kind of policy should be adopted in any sector? For the third time, this survey has been conducted to give an idea of ​​the subject. This will help policy makers and investors understand which way to go.
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