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Agile Regulatory Delivery for Improved Investment Competitiveness in Bangladesh : Current State and Policy Options (Inglês)

There is a growing consensus in both developed and emerging economies that to realize investments, a sound regulatory framework is critical. Decades of international experience suggests that ‘regulatory delivery’ has a pronounced impact on growth, both by affecting the microeconomic and transaction costs of doing business and by influencing private sector confidence in the economic system. The World Bank Group’s Investment Climate and Doing Business surveys show that investment decisions made by private companies, especially SMEs, are influenced by the quality of regulatory service delivery. The findings of the study show that the regulatory framework of Bangladesh is characterized by non-transparent, poorly coordinated, and unpredictable processes and practices. Evidence suggests that over 23 government agencies are involved in providing investor services in Bangladesh and an investor may need to navigate through as many as 150 regulatory services to start and operate a business. Furthermore, poor coordination among government, due to lack of data-sharing and interoperability mechanisms, lead to investors having to duplicate same information in multiple steps. All these factors result in unpredictability in regulatory service delivery for investors and hinder investments. The findings also suggest that while there is no gender discrimination in the law (except for the inheritance law), gender inequality exists in regulatory practices. The government has taken a number of initiatives to provide support for gender equality however, women’s economic empowerment is hindered by social factors.

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