Ease of Doing Business 2020 – Bangladesh progresses 8 (eight) notches up

October 24, 2019

For the first time, Bangladesh has been recognized as a Top-20 improver and secured a ranking of 168th position in Doing Business (DB) 2020, an improvement of eight rankings from that of last year. The 2020 DB score is 45.0, which is 3.03 points higher than that of last year.

Improvements were made in three of the DB indicators:

  • Starting a business: Bangladesh made starting a business less expensive by reducing name clearance and registration fees, and abolishing the fee for certifying digital certificates. This reform applies to both Dhaka and Chittagong.
  • Getting electricity: Bangladesh made getting electricity faster by investing in digitization and human capital at the utility. Bangladesh also made getting electricity less costly by reducing the amount of the security deposit for a new connection. This reform applies to Dhaka.
  • Getting credit: Bangladesh improved access to credit information by expanding the coverage of the credit information bureau.

The Government of Bangladesh has taken a number of positive initiatives to drive DB reforms including developing Action Plans, forming Taskforces, coordinating reform initiatives among relevant government agencies, providing reform support to line agencies, conducting dialogues with private sector stakeholders, and monitoring reform progress.

The Government of Bangladesh, in partnership with the International Finance Corporation (IFC), has been working on the DB reforms agenda. IFC has been providing necessary technical support in developing the DB Reform Action Plan and its implementation. 

The Government aims to achieve double-digit DB ranking by 2021 for which reform momentum requires acceleration and big-ticket reforms need successful implementation including amendment of Companies Act, Bankruptcy Act, Arbitration Act and Imarat Nirman Bidhimalas, enactment of Secured Transaction Bill, establishment of Commercial Dispute Resolution Court, and introduction of efficient inspection systems for border compliance by developing risk-profiles of businesses.

Please access more information on doing business at www.doingbusiness.org.

** More salient features along with the detailed Doing Business 2020 report will be uploaded shortly.