Global Competitiveness Index
Bangladesh advances by one notch to 109th position
Bangladesh has progressed one notch forward in Global Competitiveness Index as it secured the 109th position among 144 countries, according to the Global Competitiveness Report published on Wednesday globally and to be released today in Dhaka.
In last year, Bangladesh’s position was 110th, out of 148 countries, in GCI which is prepared by the World Economic Forum.
The Centre for Policy Dialogue, Bangladesh partner of the WEF, will officially release the report today at a function to be held at BRAC Centre Inn in Dhaka.
According to the report, respondents identified inadequate supply of infrastructure, corruption, inefficient government bureaucracy, government instability and access to financing as the most problematic factors for doing business in Bangladesh.
The other problematic factors for doing business are policy instability, inadequately educated workforce, crime and theft, tax regulations, inflation, foreign currency regulations, tax rates, poor work ethic in national labour force, insufficient capacity to innovate, poor public health and restrictive labour regulations.
According to the report, Bangladesh has also improved in two sub-indices namely efficiency enhancers and innovation and sophistication factors while the basic requirement remained unchanged.
Improvement in some key areas including infrastructures, macroeconomic environment, financial market development , health and primary education, higher education and training, and goods market efficiency helped the country in making progress, according to the report.
The WEF made the index of 144 countries this year, after evaluating 12 different issues, known as ‘twelve pillars’ under three sub-indices.
The pillars include institutions, infrastructure, macroeconomic environment, health and primary education, higher education and training, goods market efficiency and labour market efficiency, financial market development, technological readiness, market size, business sophistication and innovation.
Switzerland has topped the GCI, followed by Singapore, United States, Finland, Germany, Japan, Hong Kong, the Netherlands, United Kingdom and Sweden.
Among the South Asian Association for Regional Cooperation countries India has ranked 71, Sri Lanka 73, Nepal 102, Bhutan 103 and Pakistan 129th position.
-With New Age input
