Friday, February 5, 2010

Economic governance index likely

Friday, February 5, 2010

A unique economic governance index (EGI) is likely to be formulated in Bangladesh in a few months to improve the business climate for the private sector and encourage balanced development in regions.

With the EGI, the government, local authorities, business leaders and entrepreneurs will be able to take steps to foster better economic environment, business expansion and employment.

The Asia Foundation is designing the EGI for Rajshahi, Bogra, Sylhet and Barisal, incorporating business information from district headquarters, where surveys have been conducted since December.

The findings will be disseminated both at national and regional levels in a few months, speakers said at a discussion at the Rajshahi Chamber of Commerce and Industries (RCCI) auditorium on Wednesday.

The information found in the surveys will also be compiled into a 'Guide to Best Practices' that will be used as a potential source of inspiration and ideas in engaging other districts.

The UK Department for International Development (UKAID) and European Union are funding the programme, being assessed by International Finance Corporation (IFC) and Bangladesh Investment Climate Fund (BICF).

As the EGI will identify districts with better enabling environments for private enterprise, the sub-indices will spot particular strengths and weakness of each district.

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