Global competitiveness scale

Global competitiveness scale

Bangladesh's ranking needs improving

IT is like moving up and down a slippery slope. One year we go up by a notch or two, another year we slide down. In the main, it remains an uphill task to better our previous standing in terms of global competitiveness. All this is because in the vital areas we are largely stuck up.

It is little solace that the Geneva-based World Economic Forum-2014 report places Bangladesh 109th on the competitiveness scale out of 144 countries. This means 45 countries are below while 108 are above us. If it's any psychological cheer that is only nominal, but enough to shed our complacence to improve markedly in a highly competitive business world.

In the last six years infrastructure has fallen in the 'worst' category due to limited road transport, even though electricity supply has improved significantly. Look at the four-lane Dhaka-Chittagong highway which has hovered as a dream far too long. It is felt infrastructure uplift should be focused towards development of supply chain.

A significant deterioration has been marked in key indicators centred around government and public institutions during the last two years. Government effort to combat corruption and bribery have been largely ineffective, according to CPD analysis.

While noting improved macro-economic management and a leap in financial market development, business-government relationship has fallen short of creating an adequately enabling business environment. We endorse the economists' call for access to public utilities and to credit at an affordable rate of interest.

While we offer opportunities for investment we must underpin it through raising our competitiveness levels.