Institutional inefficiency and the existing manual processes in public offices remain key barriers to ensuring ethical business practices in the country, speakers at a discussion programme said on Thursday.
They also stressed the need for establishing ethical business practices to help Bangladesh sustain its competitive edge during the post-LDC era.
Business leaders during the open discussion said a truly investment-friendly environment requires an immediate digitalisation, automation, and and introduction of "Single Window" system to ensure transparency.
Speaking at the programme, Foreign Secretary Dr. Md. Nazrul Islam said while the interim government has initiated complex institutional reforms, a broader "behavioral reform" across all sectors is now a critical priority.
Mr. Islam said institutional reform and behavioural change are critical as Bangladesh navigates a sensitive transition marked by an upcoming national election and graduation from the least developed country (LDC) category later this year.
Mr. Islam also said the country stands at a "critical juncture" in its history, where reforms must deliver tangible outcomes rather than remaining policy exercises on paper.
"Reform for the sake of reform is not enough. People must see real benefits. Otherwise, it cannot be called reform," he said
Anti-Corruption Commission (ACC) Secretary Mohammad Khaled Rahim said existing procedural complexities but reaffirmed the commission's commitment to simplifying systems
He urged the business community to report specific instances of harassment to the authorities for taking action.
Mr. Rahim also admitted that systemic weaknesses, not just individual intent, often create space for corruption.
Mr. Rahim further said the ACC's preventive efforts lack adequate emphasis.
He also urged businesses to submit concrete complaints with verifiable details, assuring that anonymity would be protected, if requested.
"Without specific allegations, it becomes difficult for us to proceed legally," he said.
Mr. Rahim said loan default cases often implicate bank officials acting under pressure.
"Systemic coercion is a reality," he said.
IBFB President Lutfunnisa Saudia Khan stated that ethical practices are the cornerstone of inclusive growth and a stronger global reputation for Bangladesh.
She said that collective responsibility and open dialogue are as vital as legal frameworks in addressing the challenges faced by entrepreneurs.
In his keynote presentation, Dr. Khondaker Golam Moazzem, Research Director of the Centre for Policy Dialogue (CPD), advocated for "Business Process Re-engineering" to help lessen the cost of doing business and improve the efficiency of government agencies.
Dr. Moazzem highlighted that streamlining services--such as licensing, registration, and customs--must be accompanied by a culture of integrity among government officials to eliminate systemic bottlenecks.
M S Siddiqui, former Vice President of IBFB, criticised Bangladesh's regulatory system for burdening businesses through corruption, excessive discretionary powers, and ineffective reforms.
jasimharoon@yahoo.com