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Expanding our export horizons

  • Published at 12:03 am October 12th, 2019

There is tremendous potential for tech start-ups in Bangladesh

The Bangladesh economy has, so far, relied heavily on the dynamism of the RMG industry for its remarkable growth, but in an increasingly competitive world of global business, diversification of our export basket is of the greatest importance.

For that, it makes sense to look to the potential of software exports.

Further digitization and significant development in the sector would be beneficial for other aspects of the country as well, such as -- as the Posts and Telecommunications Minister Mustafa Jabbar said at the on-going ICT Fair -- digitized classrooms and unions brought under fibre optic network coverage.

To that end, the government is to be lauded for their ongoing efforts -- earnings from software exports soared from $26 million to $1 billion in the last decade, between 2008 and 2018.

However, with goals to further raise these earnings to $5bn and turn Bangladesh into a middle income country by the end of 2021, efforts must be kept up if significant headway is to be made in the next few years, which will be pivotal for our economy.

To stay on track, sufficient attention must be paid to digital education; furthermore a climate of entrepreneurship must be nurtured, which, right now, is sorely lacking in Bangladesh.

There is tremendous potential for tech start-ups in Bangladesh, and there is no shortage of talent in the field, particularly among young graduates. 

With the right policies, there is no reason why our software and IT sector should not become a force to be reckoned with in the coming years.