Business Environment in Bangladesh
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
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
References: Newspaper & Press Release: ▪ The Daily Star Bangladesh- Business section (September 2012 to December 2012) ▪ Financial Express - Business section (September 2012 to December 2012) Websites: ➢ http://www.scribd.com/doc/58157425/Present-Situation-of-RMG-Sector-of-Bangladesh ➢ http://en.wikipedia.org/wiki/Tazreen_garments_fire ➢ http://en.wikipedia.org/wiki/Padma_bridge ➢ http://en.wikipedia.org/wiki/Destiny_2000 ➢ http://en.wikipedia.org/wiki/Sonali_bank_hall_mark_scams