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 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.
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.