Bangladesh among top 20 improvers
Bangladesh is among the top-20 “Improvers in Doing Business 2020” as the country has implemented various reform initiatives to make a business-friendly environment, according to a World Bank (WB) report.
The report, available on the WB website, says Bangladesh made it easier for entrepreneurs to start a business, obtain an electrical connection and access credit.
Among other initiatives, Bangladesh lowered the name clearance fee for new company registration, abolished digital certification fees and reduced registration fee calculations based on share capital.
In Dhaka, the electricity supplier cut the security deposit for a new connection by half and undertook major investments to expand its staffing and digitisation of processes; licensing times by the Office of Electrical Adviser and Chief Electrical Inspector were also reduced, the report said.
Bangladesh’s credit information bureau improved access to credit by expanding its coverage to include five years of records and data on loans of any amount.
According to the report, the other “improver” countries are Azerbaijan, Bahrain, China, Djibouti, India, Jordan, Kenya, Kosovo, Kuwait, the Kyrgyz Republic, Myanmar, Nigeria, Pakistan, Qatar, Saudi Arabia, Tajikistan, Togo, Uzbekistan and Zimbabwe.