Bangladesh business environment deteriorated in 2022: CPD

Centre for Policy Dialogue (CPD) on Sunday said that the business environment in the country deteriorated in 2022 compared to  2021.

A new survey by the CPD said inadequate infrastructure, bureaucratic tangles to access to credit, and inefficient administration are the major hindrances to entrepreneurship development.

It said high inflation, foreign exchange crisis and makeshift policies have further complicated the business environment.

The think-tank shared the findings of the survey titled "Bangladesh Business Environment 2022: Entrepreneurship Survey" on Sunday.

Khandkar Golam Moazzem, Research Director of the organisation, presented the survey data at a media briefing at the CPD office in Dhanmondi in the capital. CPD's Executive Director Fahmida Khatun was present during the briefing.

Moazzem said corruption is a major obstacle to grow a sustainable business environment in the country.

The survey revealed that the business environment deteriorated in 2022 compared with 2021. About 74 per cent of officials of various institutions in the agriculture, production, and service sectors of Dhaka, Chattogram, Narayanganj and Gazipur took part in this survey conducted from April to July last year. However, it says this was not a nation-wide survey.

Around 64.6 per cent of the executives surveyed cited corruption as a major obstacle to doing business.

About 64 per cent of the officials mentioned that corruption is taking place in paying tax, 54 per cent said they face graft in getting a business licence, 49 per cent said bribe is a norm for getting gas-electricity-water connection, and 75 per cent said corruption is rampant in the import-export sector.

Fahmida Khatun said the production cost of products is increasing due to corruption.