Business Environment in Bangladesh

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  • Topic: Bank, Bangladesh, Multi-level marketing
  • Pages : 35 (11152 words )
  • Download(s) : 115
  • Published : April 1, 2013
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Introduction

Business environment refers to those communications between the dense and individuals, interest groups, administration entities and the public that are intermediated by community institutions rather than exclusively by markets and confidential agreements. These interactions are not merely local or national; they also include global forces and entities. In this report we have tried to focus on the business environment of Bangladesh by stating some major problems of current days. We have also tried to show some recommendations. The business environment in Bangladesh is currently in an unstable condition. The group of the companies also plans many other social development programs for the next decade to support “2021 DIGITAL Bangladesh”, 50 years celebration program. It is also one of the Top 10 (ten) largest Direct Selling Company among the world. The Hall-Mark loan scam raises questions about the efficiency and accountability of state-owned bank and whether any policy changes are required to retain public trust in the country's banking sector. Exports of textiles, clothing, and ready-made garments accounted for 77% of Bangladesh’s total merchandise exports in 2002. Bangladesh exports 35 types of garment products to about 31 countries around the world. The RMG sector is a 100% export-oriented industry. The World Bank has cancelled its $1.2 billion credit for the Padma bridge project with immediate effect, saying it has proof of corruption conspiracy involving Bangladeshi officials, executives of a Canadian firm and individual. Corruption, coupled with onerous bureaucracy, is still perceived as pervasive, and the underdeveloped financial sector impedes the growth of a more dynamic private sector. We will discuss about some of the issues in the later part of this paper in details. But this is for sure that the policy and economic process of Bangladesh has to be redesigned to boost industrialization and ease the pressure on foreign currency. Reforms in banking, state enterprises, energy, and public sector management have to be pursued in earnest to boost investor confidence and raise domestic and foreign investment.

Methodology

This report has been prepared on the basis of analyzing the news from the business section of the renowned newspaper “The Daily Star” & “Financial Express” for the month of ‘September’ to ‘November’ of 2012. For preparing this report, we also got information from several websites, including the website of Bangladesh Bank. Actually, this study is descriptive in nature. Maximum data were collected from the secondary sources. The details of the work plan are furnished below:

▪ Data collection method: Relevant data for this report has been collected from secondary sources by collecting important news from the newspaper. Class lectures and various articles also were taken account on the time of making this report.

▪ Data sources: Basically secondary source of data are used to complete this study. The steps in secondary source are explained below:

Secondary sources:

(a) Business section of “The Daily Star” (September - November, 2012)

(b) Different websites including the website of Bangladesh Bank

(c) Business section of “Financial Express” (September - November, 2012)

(d) Class lectures of Business and Environment course

(e) Various articles

Major Business News

After observing the business section of ‘Daily Star’ and “Financial Express” for three months, we found following news’s to appear more frequently:

News 1: Scores Injured in Bangladesh as Protests against Video Continue in Muslim World

Date: September 23, 2012, Sunday

In Dhaka, the police fired tear gas and used batons to disperse stone-throwing protesters, who were from about a dozen Islamic groups.

News 2: Muslim protesters torch Buddhist temples, homes in Bangladesh

Date: Sep 30, 2012,...
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