Country becoming more dependent on food import
Tuesday, 18 December 2007
Business confidence has declined largely during the current quarter compared to the previous quarter despite recent government steps to ensure a better business environment in the country, said a study, reports UNB.
However, the confidence is likely to improve a bit during the next quarter (January-March), according to the study report released in the city Monday.
The government has formed Bangladesh Better Business Forum (BBBF) and Regulatory Reforms Commission (RRC) in its efforts to ensure a better business climate in the country.
Shamunnay, a local socioeconomic research organisation, conducted the study titled ‘Bangladesh Economic Outlook December 2007’, the second of its kind.
Selim Raihan of Dhaka University presented the research outcome and economic outlook at the National Press Club with Shamunnay chairman Atiur Rahman in the chair.
The study also projected a slowdown in economic growth during the current fiscal year compared to the previous fiscal and found that the country was becoming more dependent on imported food and marginal people more vulnerable to rising food inflation. Atiur described investment slowdown as the most important cause behind the slow economic growth and found poor business confidence causing investors to shy away.
He said the businessmen were suffering from a sense of serious uncertainty about their investment decision due to increased cost of doing business as well as declining profits during October-December period of 2007 than the last quarter.
However, the confidence is likely to improve a bit during the next quarter (January-March), according to the study report released in the city Monday.
The government has formed Bangladesh Better Business Forum (BBBF) and Regulatory Reforms Commission (RRC) in its efforts to ensure a better business climate in the country.
Shamunnay, a local socioeconomic research organisation, conducted the study titled ‘Bangladesh Economic Outlook December 2007’, the second of its kind.
Selim Raihan of Dhaka University presented the research outcome and economic outlook at the National Press Club with Shamunnay chairman Atiur Rahman in the chair.
The study also projected a slowdown in economic growth during the current fiscal year compared to the previous fiscal and found that the country was becoming more dependent on imported food and marginal people more vulnerable to rising food inflation. Atiur described investment slowdown as the most important cause behind the slow economic growth and found poor business confidence causing investors to shy away.
He said the businessmen were suffering from a sense of serious uncertainty about their investment decision due to increased cost of doing business as well as declining profits during October-December period of 2007 than the last quarter.