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PRABRIDDHI and Policy Exchange Bangladesh Sign MoU to Develop Municipal Competitiveness Index (MCI)

Bangladesh
Entrepreneurial ecosystems
02.06.2024
To enhance local economic development, PRABRIDDHI and Policy Exchange Bangladesh have signed a Memorandum of Understanding (MoU) to develop the Municipal Competitiveness Index (MCI) on 29 May 2024. The agreement was formalised at the Swisscontact Bangladesh office, symbolising a strategic partnership aimed at promoting municipal competitiveness and fostering economic grow’th across Bangladesh.

The signing ceremony was attended by Markus Ehmann, Team Leader of PRABRIDDHI, and Dr. M. Masrur Reaz, Chairman and CEO, Policy Exchange Bangladesh. This MoU marks the beginning of a collaborative journey to create a robust framework for assessing and improving the business environment in municipalities throughout the country.

The MCI will serve as a critical tool for evaluating the economic climate of municipalities, using a set of indicators that measure local governance, sector competitiveness, supporting services, infrastructure, and human resources. By capturing comprehensive data from the private sector, public sector, and civil society organizations, the MCI aims to highlight both the strengths and areas for improvement in municipal business environments.

"The collaboration between PRABRIDDHI and Policy Exchange Bangladesh is a significant step forward in our mission to drive local economic development. The Municipal Competitiveness Index will provide valuable insights into the business climate of our municipalities, encouraging them to adopt best practices and attract more investment. Given the government's initiative and focus on developing the business environment at the national level, it is crucial to also bring change to the business environment at the local level. This initiative will undoubtedly lead to stronger, more competitive municipalities, which will, in turn, foster stronger and more efficient business environments."
Markus Ehmann , Team Leader of PRABRIDDHI

The development of the MCI aligns with the Government of Bangladesh’s "Vision 2041" strategy, which aims to transform the country into a high-income nation. By providing a clear assessment of municipal competitiveness, the MCI will support informed decision-making and strategic planning, fostering a more conducive environment for business growth and economic dynamism.

"We are thrilled to partner with PRABRIDDHI on this transformative project. The Municipal Competitiveness Index will not only foster a spirit of healthy competition among municipalities but also provide a roadmap for sustainable economic growth. Our combined expertise will ensure that the MCI becomes a robust and reliable tool for measuring and enhancing municipal performance."
Dr. M. Masrur Reaz, Chairman and CEO, Policy Exchange Bangladesh

The MCI will focus on key areas such as infrastructure, governance, business environment, and quality of life. By providing a comprehensive assessment of these factors, the index will enable municipalities to identify and address the key blockages that hinder business growth and economic development.

The MoU also emphasises the importance of a virtual platform being developed by the Bangladesh Investment Development Authority (BIDA), which will showcase the MCI and associated reform agendas. This platform will facilitate better advocacy, peer exchange, and knowledge-sharing on local economic development practices, further enhancing the impact of the MCI.

Bangladesh
Entrepreneurial ecosystems
PRABRIDDHI – Local Economic Development
PRABRIDDHI focuses on building the capacity of an urban or rural territory to create a competitive advantage for its enterprises through a broad set of activities and improve the economic well-being of its people and workers.
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