Analysts and business leaders at a high-level discussion on Thursday said ethical business practices, policy reform and institutional efficiency are critical for strengthening Bangladesh’s business climate as the country prepares for life beyond LDC status.
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the International Business Forum of Bangladesh (IBFB) jointly organised the discussion, titled “Business Climate in Bangladesh: Issues and Challenges of Ethical Practice.”
The theme of the event held at FBCCI office in Motijheel was “Strengthening Business through Ethics and Fair Practice,” according to a release.
In his keynote presentation, Dr Khondaker Golam Moazzem, Research Director of the Centre for Policy Dialogue (CPD), called for business process re-engineering to reduce the cost of doing business.
He said services such as licensing, registration and customs clearance must be streamlined alongside stronger integrity within public institutions.
Business leaders said delays in digitalisation, automation and the implementation of a single-window system continue to weaken transparency and investor confidence. They noted that regulatory inconsistencies remain a major barrier to ease of doing business.
IBFB Director M S Siddiqui said certain regulations still conflict with pro-business policies, discouraging both local and foreign investment.
Anti-Corruption Commission Secretary Mohammad Kaled Rahim acknowledged procedural complexities and reiterated the commission’s commitment to simplifying systems. He urged businesses to report specific instances of harassment.
Foreign Secretary Dr Md Nazrul Islam said that while institutional reforms are underway, broader behavioural reform across both public and private sectors is now essential.
IBFB President Lutfunnisa Saudia Khan said ethical business practices are central to inclusive growth and to strengthening Bangladesh’s global reputation. She stressed the importance of collective responsibility and open dialogue.
Concluding the discussion, FBCCI Administrator Md Abdur Rahim Khan said the federation would place the private sector’s recommendations before the government and urged entrepreneurs to uphold responsible business conduct.
The event was attended by former FBCCI directors, general body members, senior officials, and representatives from various chambers and trade associations.