Bangladesh economy has experienced significant transformations driven by various factors including Foreign Direct Investment (FDI), remittance, export diversification and trade, which are considered to have played crucial roles in the economic growth, according to the report of 3rd edition of the Bangladesh Business Climate Index (BBX).
The BBX report, released by the metropolitan Chamber of Commerce and Industries (MCCI) on Sunday, also said the country's economic resilience despite many challenges has also attributed its shift from traditional sectors to modern industries and services.
FDI, trade, remittances, export diversification etc., have not only contributed to the country's economic growth but have also positioned Bangladesh as a promising economy with vast potential for further development.
Considering the country’s growth perspective and development objectives, particularly, challenges lying ahead with the LDC graduation process and likely stiff competitions waiting ahead after 2026, Metropolitan Chamber of Commerce and Industry, Dhaka and Policy Exchange Bangladesh (PEB) undertook a drive to study the existing business climate index in Bangladesh.
This locally made flagship study was conducted in 2021 for the first time and now it is the third edition in series.
The third edition of the study has been taken up assessing the overall business climate, ecosystem, uncertainties, disruptions in global supply chain and further deteriorating situation due to Russia-Ukraine war and Israel-Palestine.
12 major industrial sectors have been brought into the coverage of the study. The objective is to visualize what appropriate policy measures and reforms need to be brought-in to remain competitive in the global market.
The study is believed to help the potential investors and policy makers to prepare specific action programs to support the industry.
MCCI launched the third edition of the “Bangladesh Business Climate Index (BBX-3) 2023-2024” on 30 May 2024.
