Bangladesh moves up 8 spot in Ease of Doing Business index

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Bangladesh ranked 168 out of 190 countries in the World Bank’s Ease of Doing Business index 2020.

According to a report by the World Bank Group (WBG), Bangladesh‘s ranking in the organization’s ease of doing business index has gone up by 8 notches to 168 , which was 176 in the previous year.

The global lender has named Bangladesh among the 20 economies that saw progress in at least three out of ten areas of ease of doing business.

Why Bangladesh did better?

Starting a business — Bangladesh made starting a business less expensive by reducing name clearance and registration fees and abolishing the fee for certifying digital certificates. This reform applies to both Dhaka and Chittagong.

Getting electricity — Bangladesh made getting electricity faster by investing in digitization and human capital at the utility. Bangladesh also made getting electricity less costly by reducing the amount of the security deposit for a new connection. This reform applies to Dhaka.

Getting credit — Bangladesh improved access to credit information by expanding the cover-age of the credit information bureau.

Score of the top five countries are:

Countries- Score

New Zealand- 86.8

Singapore- 86.2

Hong Kong- 85.3

Denmark- 85.3

Korea Republic- 84

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