Improving Regulatory Service Delivery

Improving Regulatory Service Delivery

Bangladesh has set up an ambitious target of attaining middle-income status by 2021. To achieve this objective, the economy needs to grow at a sustained rate of 7.5-8 percent annually and this would in turn require an increase in private investment...

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Bibliographic Details
Main Author: World Bank
Format: Report
Language:English
Published: World Bank, Washington, DC 2018
Subjects:
SERVICE DELIVERY
REGULATION
GOVERNMENT TO BUSINESS
G2B
BUSINESS ENVIRONMENT
ADMINISTRATIVE PROCESSES
FOREIGN DIRECT INVESTMENT
INVESTMENT CLIMATE
Online Access:http://documents.worldbank.org/curated/en/464751537421359302/Bangladesh-Policy-Note-Improving-Regulatory-Service-Delivery
http://hdl.handle.net/10986/30556
id okr-10986-30556
recordtype oai_dc
spelling okr-10986-305562021-05-25T09:18:53Z Improving Regulatory Service Delivery World Bank SERVICE DELIVERY REGULATION GOVERNMENT TO BUSINESS G2B BUSINESS ENVIRONMENT ADMINISTRATIVE PROCESSES FOREIGN DIRECT INVESTMENT INVESTMENT CLIMATE Bangladesh has set up an ambitious target of attaining middle-income status by 2021. To achieve this objective, the economy needs to grow at a sustained rate of 7.5-8 percent annually and this would in turn require an increase in private investment to at least 26.6 percent of GDP from 22 percent in 2016-17. Despite the fact that the government has implemented several policy reforms since 2008, investors still face a number of challenges in establishing and operating a business in Bangladesh. This is reflected in the World Bank Group’s Doing Business report, which finds that Bangladesh ranks 177th amongst 190 countries, making it one of the lowest-ranked economies in the South Asia region. Businesses seeking to operate in Bangladesh have to cope with multiple approvals from several institutions and agencies. A potential private investor has to navigate more than 150 government services to obtain the necessary approvals to start and operate a business in Bangladesh. The processes are regulated by over 36 agencies such as the Bangladesh Investment Development Authority (BIDA), Office of the Registrar of Joint Stock Companies and Firms (RJSC) and the Department of Environment (DoE), with little inter-agency coordination. Navigating the uncoordinated, non-transparent and cumbersome workings of the agencies imposes a high cost on domestic and foreign investors. In addition, the uncertainty and unpredictability of service delivery hampers business activities and operational planning. These challenges affect Bangladesh’s competitiveness and reputation as an investment destination. 2018-10-11T18:50:58Z 2018-10-11T18:50:58Z 2018-09-19 Report http://documents.worldbank.org/curated/en/464751537421359302/Bangladesh-Policy-Note-Improving-Regulatory-Service-Delivery http://hdl.handle.net/10986/30556 English Bangladesh Policy Notes; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Policy Notes South Asia Bangladesh
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic SERVICE DELIVERY
REGULATION
GOVERNMENT TO BUSINESS
G2B
BUSINESS ENVIRONMENT
ADMINISTRATIVE PROCESSES
FOREIGN DIRECT INVESTMENT
INVESTMENT CLIMATE
spellingShingle SERVICE DELIVERY
REGULATION
GOVERNMENT TO BUSINESS
G2B
BUSINESS ENVIRONMENT
ADMINISTRATIVE PROCESSES
FOREIGN DIRECT INVESTMENT
INVESTMENT CLIMATE
World Bank
Improving Regulatory Service Delivery
geographic_facet South Asia
Bangladesh
relation Bangladesh Policy Notes;
description Bangladesh has set up an ambitious target of attaining middle-income status by 2021. To achieve this objective, the economy needs to grow at a sustained rate of 7.5-8 percent annually and this would in turn require an increase in private investment to at least 26.6 percent of GDP from 22 percent in 2016-17. Despite the fact that the government has implemented several policy reforms since 2008, investors still face a number of challenges in establishing and operating a business in Bangladesh. This is reflected in the World Bank Group’s Doing Business report, which finds that Bangladesh ranks 177th amongst 190 countries, making it one of the lowest-ranked economies in the South Asia region. Businesses seeking to operate in Bangladesh have to cope with multiple approvals from several institutions and agencies. A potential private investor has to navigate more than 150 government services to obtain the necessary approvals to start and operate a business in Bangladesh. The processes are regulated by over 36 agencies such as the Bangladesh Investment Development Authority (BIDA), Office of the Registrar of Joint Stock Companies and Firms (RJSC) and the Department of Environment (DoE), with little inter-agency coordination. Navigating the uncoordinated, non-transparent and cumbersome workings of the agencies imposes a high cost on domestic and foreign investors. In addition, the uncertainty and unpredictability of service delivery hampers business activities and operational planning. These challenges affect Bangladesh’s competitiveness and reputation as an investment destination.
format Report
author World Bank
author_facet World Bank
author_sort World Bank
title Improving Regulatory Service Delivery
title_short Improving Regulatory Service Delivery
title_full Improving Regulatory Service Delivery
title_fullStr Improving Regulatory Service Delivery
title_full_unstemmed Improving Regulatory Service Delivery
title_sort improving regulatory service delivery
publisher World Bank, Washington, DC
publishDate 2018
url http://documents.worldbank.org/curated/en/464751537421359302/Bangladesh-Policy-Note-Improving-Regulatory-Service-Delivery
http://hdl.handle.net/10986/30556
_version_ 1764472339226951680

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