Inflation, economic recession and poverty and economic inequality - Bangladesh is facing extreme uncertainty over these three risks for the next two years, according to the Center for Policy Dialogue (CPD), a private research organization.
CPD Research Director Dr. Khondaker Golam Moazzem made this comment at a dialogue titled 'Business Environment Reform in Bangladesh: Agenda of the Interim Government' organized at the BRAC Center Auditorium in Mohakhali on Sunday (November 17).
He said that three issues are important in considering social risks for the next two years. These include unemployment, energy shortage, the prevalence of heart disease, cancer and diabetes, i.e. the poor state of the health sector and social degradation.
The article identifies 17 problems for doing business in Bangladesh. These include corruption, bureaucratic inefficiency, foreign exchange stability, inflation, financial constraints, inadequate infrastructure, policy instability, weak labor force, insufficient educated labor force, high tax rates, complexity of tax regulations, climate change, crime and theft, insufficient capacity for innovation, political instability, risky public health, and labor policy constraints.
In this regard, Dr. Golam Moazzem said, we think corruption has always been the main problem though the problem of inadequate infrastructure has gradually decreased. Over the years, inefficient bureaucracy has become another major factor. In recent years, foreign exchange instability has become a major factor. Inflation has always been a big concern. On the other hand, policy instability can be identified as a medium-level problem.
Speakers in the dialogue said that the biggest problem is corruption. The main problem starts with corruption. It is the most important. In our country, bribes are on top of bribes. This is especially true in the case of taxes. It is possible to reduce corruption by giving different policies to the NBR. Another program can be done on this issue. To reduce corruption, it is not enough to have honest people. Along with honesty, a positive mindset is essential.
Professor Lutfe Siddiqui, Special Envoy for International Affairs of the Chief Adviser (Adviser) of the Interim Government of Bangladesh, was present as the chief guest at the dialogue. CPD Research Director Khondaker Golam Moazzem presented the keynote paper at the event. CPD Executive Director Fahmida Khatun presided over the event.
In addition, Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashiq Mahmud Bin Harun, former FBCCI President Abdul Awal Mintu, FICCI President Javed Akhtar, BKMEA Executive President Fazli Shamim Ehsan, DCCI President Ashraf Ahmed and BTMA President Shawkat Aziz Russell were present as guests.