Business leaders stress ethics, efficiency for post-LDC competitiveness

Analysts and business leaders at a discussion have emphasised that ethics, efficiency, and reforms are critical for Bangladesh's competitiveness in the post-LDC era.

The discussion, titled "Business Climate in Bangladesh: Issues and Challenges of Ethical Practice," was jointly organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and the International Business Forum of Bangladesh (IBFB) at the FBCCI office in Motijheel today (5 February).

In his keynote, 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 and improve government efficiency.

Participating business leaders stressed that creating a truly investment-friendly environment requires digitalisation, automation, and a "single window" system to ensure transparency.

IBFB Director MS Siddiqui highlighted that some regulatory frameworks remain at odds with ease-of-doing-business objectives, discouraging both local and foreign investment.

Addressing these concerns, Anti-Corruption Commission (ACC) Secretary Md Kaled Rahim acknowledged procedural challenges but reaffirmed the commission's commitment to streamlining systems.

Foreign Secretary Dr Md Nazrul Islam added that broader behavioural reform across sectors is now a priority.

IBFB President Lutfunnisa Saudia Khan noted that ethical practices are the cornerstone of inclusive growth and Bangladesh's global reputation.

Speaking at the event, FBCCI Administrator Md Abdur Rahim Khan said the private sector's recommendations would be formally submitted to the government and urged entrepreneurs to uphold responsible business conduct.

The event was attended by former FBCCI directors, senior officials, IBFB leaders, and representatives of various chambers and associations.