Mohammed Monirul Alam
Country’s private investment initiatives have grown significantly thanks to the government mega infrastructure projects and ease in doing business environment.
Rise in business desire exaggerate last year as investor’s eye easy communication and availability of utilities across the country. The government is at final stage to construct Padma Bridge, established many economic zones, constructed multilane highways, a new port at Paira-Patuakhali, and coal-fired electricity units. economist says.
According to the Register of Joint Stock Companies and Firms (RJSC) around 11,500 companies and firms have been registered with the RJSC last year against last five years average registration 9,500.
Asked about the growth, registrar of the RJSC Md Zakir Hossain told Business Mirror that steps towards ease of doing business taken by the government, automation, establishment of economic zones are major reasons behind the surge.
“Bangladesh’s eight notch improvement in global doing business index also reflect the government testimony in freeing regulations for doing business. The rise in registration of new entities is the proof of improving business friendly climate in the country,” Zakir said.
Out of the registered entities textile, leather, food processing, poultry and dairy sectors got thrust in setting future business, sources at the RJSC said.
Research Director at Centre for Policy Dialogue, Dr Khondaker Golam Moazzem said this trend indicate that businessmen are wooing set new venture on the aftermath of mega projects and economic zones developed by the government.
” Due to rise in electricity generation and infrastructure development the investors are coming forward to set new business entities ” he said.
The state owned RJSC is delivering services amid many challenges including limited manpower and almost outdated digital equipment.
A total of 2,39,311 companies and firms have been registered with RJSC since 1947, according to RJSC records.
The private sector owned three fourth companies and remaining owned by government, joint venture and foreign. The RJSC also register trade organization and society.
Business initiatives started to grow from 2009 after the automation of business registration process by RJSC.