Bangladesh placed at 107th in terms of doing business

FE Team | Published: September 27, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
Bangladesh has been placed at 107th position in the globe in terms of doing business, dropping from its previous position of 102nd, a global survey by the World Bank (WB) and International Finance Corporation (IFC) revealed Wednesday.
According to the survey report titled "Doing Business 2008" released in Washington Wednesday, Bangladesh's is ranked 107th this year among the 178 countries in the world.
Like previous year, Singapore topped the list followed by New Zealand, the United States, Hong Kong (China) and Denmark.
Among the South-Asian countries, Bangladesh is ahead of Nepal, Bhutan, India and Afghanistan while it is left behind the Maldives, Pakistan and Sri Lanka.
Nepal, Bhutan, India and Afghanistan secured 111th , 119th, 120th and 159th positions respectively while the Maldives, Pakistan and Sri Lanka 60th , 76th and 101st respectively.
According to the survey report, to start a business in Bangladesh takes 74 days, India 33 days, Pakistan 24 days, Nepal 31 days, Bhutan 48 days, Sri Lanka 39 days, the Maldives nine days and Afghanistan nine days.
On the other hand, getting a licence for a business in Bangladesh takes 252 days, in India 224 days, Pakistan 223 days, Nepal 424 days, Bhutan 183 days, Sri Lanka 214 days, the Maldives 118 days and Afghanistan 340 days.
Bangladesh's position in "Trading Across Boarder" criteria has improved from 139th to 112th, in "Protecting Investors" criteria it is unchanged at the 15th while in "getting Credit", "Starting a Business", "Dealing with Licences", "Employing Workers", "Registering Property", "Paying Taxes", "Enforcing Contracts" and "Closing a Business" criteria have dropped from 45th to 48th , 68th to 92nd, 67th to 116th , 75th to 129th , 167th to 171th , 72nd to 81st , 174th to 175th and from 93rd to 102nd respectively.
In the report, the WB and the IFC revealed that Bangladesh had been placed on the top on Getting Credit and Investor Protection criteria among the South-Asian region.
In other criteria, Bangladesh's position in Starting Business is 5th, in Dealing with Licences 4th, in Employing Workers 6th, in Registering Property 5th, in Paying Taxes 3rd, in Trading Across Boarder 3rd, in Enforcing Contract 3rd and in Closing a Business is 4th among the eight South-Asian countries.
In Trading Across Border criteria, the report said, Bangladesh needs 28 days for export and 32 days for importing goods while cost of export is US$884 per container and import $1148 per container.
The country requires 41 procedures and 1442 days to enforce a business contract, the report stated.
According to the survey report, it needs to complete eight procedures and 425 days to register a property in Bangladesh for a business.
Meanwhile, the World Bank after releasing the global survey report in Washington said the countries in Eastern Europe and the former Soviet Union reformed the most in 2006-07 along with a large group of emerging markets, including China and India.
This year Egypt tops the list of reformers that are making it easier to do business. Egypt greatly improved its position in the global rankings on the ease of doing business, with reforms in five of the 10 areas studied by the report.
And for the second year running, Singapore tops the aggregate rankings on the ease of doing business.