Bangladesh second worst to invest in: Survey
Star Business Report
Bangladesh is the second worst country after Myanmar in the Asia-Pacific region to invest in, according to a survey conducted by Singapore-based Vriens & Partners.
Vriens & Partners is an Asia-focused corporate advisory firm, specialising in government relations and public affairs and political risk analysis. The firm offers expert counsel and a suite of discreetly tailored and highly specialised services to multinationals, non-profits and governments.
The survey, which was published recently, ranked Bangladesh 18th in the "Good Governance for International Business Index in 2011" out of the 19 countries surveyed.
Bangladesh was placed at the bottom last year when the firm launched the index.
But this year the country is just ahead of Myanmar -- a country still largely shut off from foreign investment.
However, Bangladesh scored remarkably well on the taxation pillar as the current government has looked to reform the country's out-dated tax code, but it received weak scores across the remaining pillars, which is not encouraging, said Vriens & Partners in its analysis on the country.
"Other fundamental inhibitors to investment remain. Corruption is still pervasive in Bangladesh, and although officials have taken steps to address the problem, it is still too early to determine their success," it said.
Singapore, which was the second best country to invest in last year, topped the list this year. Hong Kong took a close second.
Among Bangladesh's South Asian neighbours, India took the 13th place and Sri Lanka 14th. Vietnam ranked 11th and Indonesia 12th.
The index focuses on the relationship between governance and business and investment across Asia Pacific by evaluating and ranking 19 countries. It is the only index focusing on the business climate for international companies and direct investors across Asia Pacific.
The index is evaluated on the basis of six criteria -- rule of law, openness to international trade and business, political stability, taxation, corruption, and fiscal and monetary administration.
The data for the composition of the index is drawn from a survey of business executives around Asia Pacific, expert assessment by Vriens & Partners and third-party data from trusted sources, including the World Bank, the World Economic Forum and Transparency International.
The Good Governance for International Business index provides a timely and useful resource for business leaders and governments alike. International business is increasingly interested in emerging economies across Asia, and there has been a clear effort by governments to improve governance for international business in order to attract investment. This index sheds light on this dynamic and diverse region, said Hans W Vriens, managing partner of Vriens & Partners.
Bangladesh second worst to invest in: Survey
Star Business Report
Bangladesh is the second worst country after Myanmar in the Asia-Pacific region to invest in, according to a survey conducted by Singapore-based Vriens & Partners.
Vriens & Partners is an Asia-focused corporate advisory firm, specialising in government relations and public affairs and political risk analysis. The firm offers expert counsel and a suite of discreetly tailored and highly specialised services to multinationals, non-profits and governments.
The survey, which was published recently, ranked Bangladesh 18th in the "Good Governance for International Business Index in 2011" out of the 19 countries surveyed.
Bangladesh was placed at the bottom last year when the firm launched the index.
But this year the country is just ahead of Myanmar -- a country still largely shut off from foreign investment.
However, Bangladesh scored remarkably well on the taxation pillar as the current government has looked to reform the country's out-dated tax code, but it received weak scores across the remaining pillars, which is not encouraging, said Vriens & Partners in its analysis on the country.
"Other fundamental inhibitors to investment remain. Corruption is still pervasive in Bangladesh, and although officials have taken steps to address the problem, it is still too early to determine their success," it said.
Singapore, which was the second best country to invest in last year, topped the list this year. Hong Kong took a close second.
Among Bangladesh's South Asian neighbours, India took the 13th place and Sri Lanka 14th. Vietnam ranked 11th and Indonesia 12th.
The index focuses on the relationship between governance and business and investment across Asia Pacific by evaluating and ranking 19 countries. It is the only index focusing on the business climate for international companies and direct investors across Asia Pacific.
The index is evaluated on the basis of six criteria -- rule of law, openness to international trade and business, political stability, taxation, corruption, and fiscal and monetary administration.
The data for the composition of the index is drawn from a survey of business executives around Asia Pacific, expert assessment by Vriens & Partners and third-party data from trusted sources, including the World Bank, the World Economic Forum and Transparency International.
The Good Governance for International Business index provides a timely and useful resource for business leaders and governments alike. International business is increasingly interested in emerging economies across Asia, and there has been a clear effort by governments to improve governance for international business in order to attract investment. This index sheds light on this dynamic and diverse region, said Hans W Vriens, managing partner of Vriens & Partners.
Bangladesh second worst to invest in: Survey
