DHAKA: A latest World Bank (WB) report finds that by adopting modern technology and reforming regulatory framework, Bangladesh eases procedure for doing business.

The WB, however, in its annual report titled, ‘Doing Business 2015: Going Beyond Efficiency’ published on Wednesday said that Bangladesh made the procedure easier for local entrepreneurs to do business.

Nevertheless, besides Bangladesh, Nepal and Pakistan also focused their efforts on adopting modern electronic systems to facilitate business activity in South Asia, the report added.

The WB placed the report in Singapore on the top of the global ranking on the ease of doing business.

The other top economies with the most business-friendly regulatory environments are New Zealand, Hong Kong, Denmark, the Republic of Korea, Norway, the United States (US), the United Kingdom (UK), Finland and Australia.

On the other hand, among the 189 countries rated, the bottom five countries are: Chad, South Sudan, Libya, Central African Republic and Eritrea.

In addition, the report notes that the country made trading across borders easier by introducing a fully automated, computerized customs data management system, ASYCUDA (Automated System for Customs Data) World.

It said Bangladesh and Pakistan made trading across borders easier by implementing computerized systems that allow web-based submission of documents, reducing the time to export and import.

“We are encouraged by the modernization of regulatory processes in South Asia because it is benefiting local entrepreneurs,” said Rita Ramalho, Doing Business report lead author, World Bank Group.

The report finds that since 2005, all economies in the region have taken steps to improve the business environment in areas measured by the report.

This year, for the first time, Doing Business collected data for a second city in economies with a population of more than 100 million. In Bangladesh, it now analyzes business regulations in Chittagong and Dhaka.

BDST: 1051 HRS, OCT 30, 2014