State minister for posts, telecommunications and information technology Zunaid Ahmed Palak on Wednesday said that if the right policy support was given to the semiconductor sector, it would be possible to earn at least $10 billion from exporting semiconductor items by 2041, according to a press release.
He urged for an industry-academia collaboration to create high skilled and technologically advanced work force especially compatible for this sector as the demand was very high at home and abroad.
He said this while speaking at a seminar titled 鈥楿nleashing the potential of semiconductor industry in Bangladesh鈥� organised by the Dhaka Chamber of Commerce and Industry at the DCCI auditorium in the capital Dhaka on the day.
Experts and policymakers at the seminar said that the semiconductor manufacturing industry had potential to be a billion dollar sector in Bangladesh with proper policy support and required incentives.
They said that there were a few design houses in Bangladesh and they are doing well, but in terms of chip fabrication, assembly, testing and packaging we were still lagging behind.
DCCI president Ashraf Ahmed suggested that for successful implementation of import substitution industrialisation and export diversification, development of the semiconductor industry should be prioritised.
He said, 鈥楳any countries are investing heavily in the semiconductor industry, creating a high demand for skilled workers. The government should focus on cultivating a skilled workforce required to meet the growing demands of the semiconductor industry in Bangladesh.鈥�
He also underscored the importance of transparent administrative procedures and their simplification for setting up semiconductor businesses, including licensing, permits and import/export regulations.
He also recommended ensuring robust protection for intellectual property to encourage innovation and attract foreign investors.
GSM Jafarullah, managing director of Bangladesh High-Tech Park Authority, informed that the government was also considering best possible tax benefits to the ICT sector to attract more local investment or FDI.
ASMA Haseeb, nanomaterials and ceramic engineering department professor of Bangladesh University of Engineering and Technology, in his keynote paper said that at least 81 per cent of the world鈥檚 assembling, testing and packaging production was located in Asia.
鈥楾here is a huge opportunity to utilise the current geo-political scenario in our favour as we have a large pool of young work force with great potential. At this point we need to plan for a comprehensive roadmap for the development of this sector in future,鈥� he added.
Mir Shahrukh Islam, managing director of Bondstein Technologies Ltd, and Liakat Ali, additional managing director of Walton Digi-Tech Industries, among others, also spoke on the occasion.
