Experts on Saturday said that a lack of integrated planning and supportive policy reforms remained as a significant obstacle to the growth of Bangladesh鈥檚 information and communication technology sector and so urgent reforms were needed to turn this sector into one of the country鈥檚 leading industries.
Speaking at a seminar titled 鈥楻eform for ICT Industry Growth鈥�, organised by the Dhaka Chamber of Commerce and Industry, experts from various sectors highlighted the need for cohesive strategies, infrastructure development and accessible financing to realise the sector鈥檚 potential.
Ashraf Ahmed, president of DCCI, emphasised the need for policy reform and workforce development to enable Bangladesh鈥檚 ICT sector to compete on the global market, which is valued at nearly $3 trillion, according to a press release.
鈥極ur IT industry, with nearly $2.5 billion in revenue, occupies a small segment only despite having one of the largest pools of IT-related workers in the world,鈥� he noted.
The DCCI president urged for short-term, mid-term and long-term strategies, calling for investments in skills development, logistics and education to address skill gaps and advance Bangladesh鈥檚 ICT capabilities.
The seminar underscored the challenges local ICT entrepreneurs faced, particularly in accessing low-cost finance.
Mir Shahrukh Islam, managing director of Bondtein Technologies Limited, shared that over 2,600 IT companies currently operated in Bangladesh, yet they struggled with stringent collateral requirements for financing.
鈥業CT entrepreneurs are struggling to get easy access to low-cost finance due to a lack of friendly regulatory policies and stringent collateral requirements,鈥� Mir Shahrukh explained while presenting the keynote paper, adding that incentives for semiconductor industry could spur growth in this emerging sector.
Lutfey Siddiqi, chief adviser鈥檚 special envoy on international affairs, addressed the importance of streamlined policies and accurate data for effective planning.
Siddiqi noted, 鈥楾he present government is working in a changed environment, which needs to be considered by all. If the existing policies are properly implemented, it will be easier to do business activities along with citizen聽services.鈥�
Experts highlighted the need for an ICT-friendly academic curriculum and industry-academia collaboration to enhance graduates鈥� practical聽skills.
Bangladesh Bank executive director (ICT) Muhammad Zakir Hasan proposed forming a steering committee to oversee coordinated development across the ICT sector, emphasising that 鈥榠ntegrated planning鈥� and 鈥榠ndustry-academia coordination鈥� were vital to create skilled聽graduates.
The seminar concluded with recommendations to expand export incentives, update telecommunication policies and strengthen data privacy laws, as stakeholders urged collaborative efforts between public and private sectors.
DCCI senior vice-president Malik Talha Ismail Bari moderated the discussion, with other DCCI officials present in the聽seminar.