Analysts and business leaders on Thursday said comprehensive policy reforms, stronger institutional efficiency and an uncompromising commitment to ethical business practices are crucial for Bangladesh to sustain its competitiveness in the post-LDC graduation era.
The observations came at a high-level discussion titled “Business Climate in Bangladesh: Issues and Challenges of Ethical Practice”, jointly organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the International Business Forum of Bangladesh (IBFB) at the FBCCI office in Motijheel.
Presenting the keynote paper, Dr Khondaker Golam Moazzem, Research Director of the Centre for Policy Dialogue (CPD), called for urgent ‘business process re-engineering’ to lower the cost of doing business and enhance the efficiency of government agencies.
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He said streamlining core services such as licensing, registration and customs clearance must go hand in hand with strengthening integrity and accountability among public officials to remove systemic bottlenecks.
During the open discussion, business leaders said creating a genuinely investment-friendly environment requires swift implementation of digitalisation, automation and a fully functional single window system to ensure transparency and predictability.
IBFB Director M S Siddiqui noted that several existing regulatory frameworks remain misaligned with ease-of-doing-business objectives, which can deter both domestic and foreign investment.
Responding to the concerns, Anti-Corruption Commission (ACC) Secretary Mohammad Kaled Rahim acknowledged procedural complexities in the system but reiterated the commission’s commitment to simplifying processes.
He urged members of the business community to report specific instances of harassment or irregularities to the authorities.
Foreign Secretary Dr Md Nazrul Islam said the interim government has already initiated complex institutional reforms, but emphasised that broad-based “behavioural reform” across both public and private sectors has now become a critical priority.
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IBFB President Lutfunnisa Saudia Khan said ethical business practices are the foundation of inclusive growth and a stronger global image for Bangladesh.
She stressed that collective responsibility, transparency and continuous dialogue are as important as legal frameworks in addressing the challenges faced by entrepreneurs.
FBCCI Administrator Md Abdur Rahim Khan assured participants that the private sector’s recommendations would be formally conveyed to the government.
He also urged entrepreneurs to uphold responsible and ethical business conduct.
Former FBCCI directors, general body members, FBCCI Secretary General Md Alamgir, Head of FBCCI International Affairs Wing Md Zafar Iqbal, Adviser of FBCCI Safety Council Brig Gen (retd) Abu Nayeem Md Shahidullah, along with leaders from IBFB and various chambers and trade associations attended the event.