[1]Corruption, weak bureaucracy, lack of access to credit -top 3 challenges for business recovery: CPD
DOT Desk: [2] Corruption, inefficient bureaucracy and lack of access to credit during the post-Covid period in 2021 have been the top three challenges for a conducive business environment – particularly the micro, small and cottage industries, a Centre for Policy Dialogue (CPD) survey revealed today, reports TBS. [3] Moreover, the businesses in the country will take 3 years to recover from the effects of the pandemic, according to 45% of the 73 private company high officials who were surveyed during April-July in 2021.
[4] The Executive Opinion Survey (EOS) report, prepared by CPD Research Director Dr Khondaker Golam Moazzem, Programme Associates Md Salay Mostofa and Ms Ratia Rehnuma, was published on Monday.Presenting the keynote, Research Director Dr Khondaler Golam Moazzem said, “Some 68% businessmen considered corruption to be the main obstacle while 67% and 55% of the business people respectively noted that incompetent administration and insufficient project financing to be the biggest challenge.”
“In addition, 42% responders said the country’s economy is still under pressure while 63% of the traders supposed that the distribution of incentive packages was “disproportionate” for the SMEs during the peak of the Covid era.
Centre for Policy Dialogue (CPD) conducted the survey to report the state of business competitiveness of Bangladesh during 2021 in the backdrop of easing of the Covid-19 pandemic and compare the changes to understand the level of recovery in the business environment.
Despite the ‘build back better’ approach in the post-Covid period, businesses continue to face structural challenges, added with new challenges, that ends up questioning the competitiveness of the business environment, the study concluded.
Moreover, the businesses accounted for mostly disproportionate recovery after it failed to ensure decent employment and wages, social and environmental development and access for the marginalized.