FBCCI–IBFB urge ethical business practices for post-LDC competitiveness

Business leaders and policy analysts on Thursday underscored the need for policy reforms, institutional efficiency, and strong ethical business practices to sustain Bangladesh’s competitiveness after graduation from least developed country (LDC) status.

The observations were made at a 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 Khondaker Golam Moazzem called for business process re-engineering to reduce the cost of doing business and improve the efficiency of government agencies, stressing the need for streamlined services and integrity in public administration.

Speakers at the open discussion highlighted the importance of digitalisation, automation, and a single-window system to enhance transparency and improve the investment climate, said a press release.

IBFB Director MS Siddiqui said inconsistencies in some regulatory frameworks continue to hinder ease of doing business.

Responding to the concerns, ACC Secretary Mohammad Kaled Rahim reiterated the commission’s commitment to simplifying procedures, while Foreign Secretary Md Nazrul Islam emphasised the need for behavioural reform alongside ongoing institutional changes.

IBFB President Lutfunnisa Saudia Khan said ethical practices are vital for inclusive growth and improving Bangladesh’s global image.

Concluding the event, FBCCI Administrator Md Abdur Rahim Khan said the organisation would place the private sector’s recommendations before the government and urged entrepreneurs to uphold responsible business conduct.