As far as ease in doing business is concerned in the country, people may expect a quicker electricity connection to their business entities now but things haven't improved changed much in other areas.
"Now businessmen are getting electricity within 28 days instead of previously required 404 days", said consultant of Bangladesh Investment Development Authority (BIDA) Sakib N Farhan while placing his survey report at a stakeholder session titled "Doing Business Reform Updates" on Wednesday.
Sakib N Farhan, however, mentioned that no significant improvement was made in nine other indicators including registering property, dealing with construction permit, protecting minority investors, paying taxes, trading across border and enforcing contracts.
The BIDA consultant said they have prepared the report on the basis of data accumulated from businessmen where 64 per cent of them said they are "very satisfied with Desco electricity service".
Responding to dismal reactions and observations from different speakers about the country's business climate, BIDA executive chairman Kazi Aminul Islam, who presided over the function at Sonargaon Hotel in the city, said nothing to be frustrated with the situation, report UNB.
"The government has been trying to bring Bangladesh within two-digit rank from current rank of 177th among 189 countries in the case of ease of doing business", he said.
He said India started reforms in business rules 30 years ago while we are progressing fast.
Commerce Ministry's additional secretary Ruhidas Jodder said some Barrister Tanjim was appointed by the government in 2008 to reform the Companies Act, he did nothing but only translated a foreign law.
In last 10 years there is no progress in this regard, said Ruhidas adding that now he has taken step to do the job.
A Dhaka chamber official said that it takes 38 permissions from different government agencies to open a small business like a grocery shop.
He also mentioned that many foreign investors after showing huge interest don't want to invest in Bangladesh because the National Board of Revenue (NBR) imposes 15 per cent taxes on equity before their investment.
A lawyer who works with foreign companies alleged that the staffs at the office of joint register of business always demand bribes in proving new company registration.
Supreme Court Registrar Bazrul Karim said many people prefer to speak about reforms in law. But application of law is more important than reform.
He said if Companies Act or any business law is required to be reformed it should be done in consultation with the business people, not by the lawyers alone.
