Analysts and business leaders on Wednesday stressed that policy reforms, institutional efficiency and strict adherence to ethical business practices are crucial for Bangladesh to sustain its competitiveness after LDC graduation.

The observations came at a high-level discussion titled “Business Climate in Bangladesh: Issues and Challenges of Ethical Practice,” 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.

Presenting the keynote paper, CPD Research Director Dr Khondaker Golam Moazzem called for comprehensive Business Process Re-engineering to reduce the cost of doing business and improve the efficiency of government agencies.

He said streamlining services such as licensing, registration and customs must go hand in hand with fostering integrity among public officials to remove systemic bottlenecks.

Responding to the concerns, Anti-Corruption Commission (ACC) Secretary Mohammad Kaled Rahim acknowledged procedural complexities and reiterated the commission’s commitment to system simplification, urged businesses to report specific cases of harassment.

Foreign Secretary Md Nazrul Islam said that while the interim government has initiated complex institutional reforms, comprehensive behavioural reform across sectors is now a pressing priority.

Business leaders during the open discussion said an investment-friendly environment requires immediate implementation of digitalisation, automation and a functional Single Window system to ensure transparency.

IBFB President Lutfunnisa Saudia Khan said ethical practices are fundamental to inclusive growth and enhancing Bangladesh’s global image, adding that collective responsibility and open dialogue are as important as legal frameworks in addressing entrepreneurs’ challenges.

IBFB Director M S Siddiqui noted that several regulatory frameworks still contradict ease-of-doing-business objectives, discouraging both domestic and foreign investment.

Concluding the session, FBCCI Administrator Md Abdur Rahim Khan said the chamber would formally submit private sector recommendations to the government and urged entrepreneurs to uphold responsible business conduct.

The event was attended by former FBCCI directors, general body members, FBCCI Secretary General Md Alamgir, Head of FBCCI International Affairs Wing Md Zafar Iqbal, Adviser of FBCCI Safety Council Brig Gen (retd) Abu Nayeem Md Shahidullah, IBFB leaders, and representatives from various chambers and trade bodies.