Bureaucratic inefficiency major stumbling block to doing business: CPD

Entrepreneurs identified inefficient bureaucracy, corruption, and limited access to finance as the key barriers to doing business in 2019, according to the World Economic Forum’s Global Competitiveness Report 2020.

The forum’s local partner Centre for Policy Dialogue on Thursday released the Bangladesh part of the report at an online press conference.

“Earlier, corruption and inadequate infrastructure were at the top of the list of barriers. However, inefficient bureaucracy has now been identified as the major obstacle,” CPD Research Director Khondaker Golam Moazzem said.

“Entrepreneurs, surveyed for the report, think that inefficiency of bureaucracy and extra time and cost for public services increase the overall cost of doing business.”

The World Economic Forum, popularly known as Davos Forum, has been publishing the Global Competitiveness Report since 1979.

CPD has been carrying out the Bangladesh part of the report since the country was included in it in 2001.