What are Bangladesh’s top business risks in the coming decade? | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Sunday
December 03, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
SUNDAY, DECEMBER 03, 2023
What are Bangladesh’s top business risks in the coming decade?

Trade

TBS Report
08 October, 2020, 10:25 pm
Last modified: 08 October, 2020, 10:46 pm

Related News

  • Khilafat Andolon: 'Polls-oriented', winning none  
  • Treasury bill interest rate tops 11%
  • Chairpersons of three Islamist parties to battle for Chattogram-2 seat
  • PM to hold meeting with leaders of 14-party alliance tomorrow
  • Last sip of coffee with cats: Bidding adieu to Capawcino

What are Bangladesh’s top business risks in the coming decade?

In the previous report, the World Economic Forum identified energy price shock and high pollution as leading risks for doing business in Bangladesh

TBS Report
08 October, 2020, 10:25 pm
Last modified: 08 October, 2020, 10:46 pm

A recent survey conducted by the World Economic Forum (WEF) has found that issues related to governance are the key concern for business executives in Bangladesh.

Besides, the executives termed the failure of financial mechanism or institution, and unemployment or underemployment the next major concerns for doing business in the country this year.

Failure of urban planning, climate change adaptation and critical infrastructure are some of the other risks that Bangladeshi executives might face in the next decade, the survey mentioned.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

In the previous report published in 2019, the WEF identified energy price shock and high pollution as leading risks for doing business in Bangladesh.

The WEF's interactive map on Regional Risks for Doing Business 2020 showed unemployment or underemployment as the leading risk for doing business globally. This is also the same key risk for nations in the South Asian region.

Spread of infectious diseases is the second most recurring risk appearing in the top 10 in all regions. The risk has come to the fore this year, rising 28 places from last year's survey.

At the country level, unemployment or underemployment has been ranked as the top most risk in India and Nepal.

A significant number of business executives in Pakistan put the risk of "terrorist attack" at the top, while "issues related to the national governance" ranked top in Sri Lanka, similar to Bangladesh.

Business executives from developed countries such as the United States, United Kingdom, Australia, Canada, Germany, Netherlands, Singapore, Sweden, and Switzerland are worried over "cyber-attacks" as a top risk for doing business.

The findings of the Regional Risks for Doing Business 2020 are based on over 12,000 responses from business leaders in 127 countries. The survey is based on 30 selected risks, including terrorist attacks, extreme weather events and state collapse or crisis.

The business leaders were asked to determine "the five global risks that you believe to be of most concern for doing business in your country within the next 10 years."

More than 10% of business executives from each of the surveyed countries such as Mexico, Lebanon, Romania, and Sri Lanka conveyed "issues with national governance" could be a major risk for doing business.

Commenting on the matter, WEF's Managing Director Saadia Zahidi said, "The employment disruptions are being caused by the pandemic, rising automation and the transition to greener economies are fundamentally changing labour markets.

"As we emerge from the crisis, leaders have a remarkable opportunity to create new jobs, support living wages, and reimagine social safety nets to adequately meet the challenges in the labour markets of tomorrow."

Lee Hyung Hee, President of the Social Value Committee at SK Group, said, "The global pandemic has unleashed untold damage to our economies and societies. Business leaders in Asia have recognized that risk in their response to the Forum's survey, with infectious diseases appearing as the number one risk for the region.

"As new partners to the initiative, we are working to better understand the interconnections between the risks perceptions of business leaders and their broader multi-stakeholder community. What we already know is that tackling the intersecting risks of pandemic, financial risks, and climate change will be a cornerstone of the desired new normal."

The WEF conducted the survey in partnership with Marsh & McLennan Companies, Zurich Insurance Group, and SK Group.

It was part of the Forum's Global Risks Initiative, a work-stream that analyses critical global risks and communicates these risks to stakeholders and the wider public through digital and media assets.

Bangladesh / Top News

Trade / Business risk / Bangladesh

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Treasury bill interest rate tops 11%
    Treasury bill interest rate tops 11%
  • File Photo of Prime Minister Sheikh Hasina
    PM to hold meeting with leaders of 14-party alliance tomorrow
  • Hundreds of AL independent nominations cancelled
    Hundreds of AL independent nominations cancelled

MOST VIEWED

  • Representative image
    5.5 magnitude earthquake jolts Dhaka, parts of country
  • Cox's Bazar Express started its first journey from Cox's Bazar to Dhaka at 12:40pm on Friday (1 December). Photo: Nupa Alam
    Man crushed by Cox's Bazar Express on debut journey
  • Representative image
    BCS admin cadres' organisation forays into luxury hotel business
  • Will Bangladeshi garment exporters be able to meet EU's upcoming standards?
    Will Bangladeshi garment exporters be able to meet EU's upcoming standards?
  • 5 renewable power projects on cards to counter global fuel price surge
    5 renewable power projects on cards to counter global fuel price surge
  • Collage of the Android Earthquake Alerts System screenshots posted on the social media on Saturday, 2 December 2023
    Here’s how your Android phone alerts you of an earthquake

Related News

  • Khilafat Andolon: 'Polls-oriented', winning none  
  • Treasury bill interest rate tops 11%
  • Chairpersons of three Islamist parties to battle for Chattogram-2 seat
  • PM to hold meeting with leaders of 14-party alliance tomorrow
  • Last sip of coffee with cats: Bidding adieu to Capawcino

Features

Designed for utility, the D90 is a giant in comparison to other MG models and misses out on design elements which gives the other models their sporty stance. Photo: Akif Hamid

Maxus D90: Spacious, capable and practical

4h | Wheels
Maria Callas: Remembering the soprano diva on her century

Maria Callas: Remembering the soprano diva on her century

3h | Features
Photo: Touseful Islam

Last sip of coffee with cats: Bidding adieu to Capawcino

5h | Features
Jannatul Ferdous Ivy has written 11 books so far with the latest, a series of poems, being published this year. Photo: Noor-A-Alam

Jannatul Ferdous Ivy: Overcoming tragedy, excelling in life

14h | Panorama

More Videos from TBS

Euro champion Italy in 'Group of Death' with Spain and Croatia

Euro champion Italy in 'Group of Death' with Spain and Croatia

47m | TBS SPORTS
Mahiya Mahi, Dolly Sayantani and Hero Alam's candidacy canceled!

Mahiya Mahi, Dolly Sayantani and Hero Alam's candidacy canceled!

3h | TBS Stories
Doctors of bike engines

Doctors of bike engines

1h | TBS Stories
5 renewable power projects on cards to counter global fuel price surge

5 renewable power projects on cards to counter global fuel price surge

4h | TBS Insight
EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]