The ICT industry is a relatively new sector in the country's economy which is an important growth industry. The World Bank, in a study conducted in 2008, projected triple digit growth for Bangladesh in IT services and software exports. The software and ITES industry of Bangladesh is relatively small compared to the size of its population, and the size of the national economy. The Bangladesh ICT Sector has started rapidly growing in recent years. The average yearly growth rate of these industries here has been over 40 percent for recent five years, and this growth rate is expected to continue.
This optimistic growth is the ICT sector of Bangladesh is supported by good software export trends and large demand for IT automation in domestic market. Recently in Bangladesh, large-scale automation projects have been widely implemented in the sectors of telecom, banking, finance, pharmaceutical, and garment/textile industries. Domestic demand for software and ITES industries is expected to increase more.
The government of Bangladesh is tirelessly working with a view to establishing 28 high-tech parks and has already formed the Bangladesh High Tech Park Authority (BHTPA) under the framework of the ICT ministry. The goal is to earn around $5 billion from this digital revolution. Within the next six years, this income will multiply six times. As of now, there are close to 500 software and ITES companies are registered in Bangladesh. These companies employ over 12,000 local ICT professionals.
More than 100 companies export their software and ITES to over 30 countries around the world which is increasing rapidly. At least 30 companies, among 100 companies that export their products, are established through joint venture with overseas companies or as Offshore Development Centre’s (ODC) by 100 percent foreign capital investment. The major export market is North America, but recently export to EU countries East Asian countries mainly Japan has started.
Bangladesh is a relatively recent entrant in the global ICT outsourcing market. It has made great strides in this market over the last ten years. Recently, the outsourcing trend has gained so much popularity and acceptance in the country that people from different levels of society are coming into this profession. This phenomenon is transforming Bangladesh into a brand new nation. By working in this arena, people of Bangladesh will find a remedy for unemployment and also be able to bring a revolution in economic development.
In 2019 a new report of UNCTAD says, ‘Bangladesh ICT sector has grown by 40 percent annually since 2010, thanks to public and private sector initiatives’. It resembles an Export Processing Zone (EPZ) that facilitates garments industries or other export-oriented businesses under special privileges. Bangladesh has already earned some success in this type of management. The software and IT enabled services in Bangladesh is also blessed with a large number of young, enterprising and well-educated entrepreneurs who are passionate about ICT entrepreneurship and will surely keep this industry here thriving for many years to come.
The BASIS (Bangladesh Association of Software and Information Services) is the national trade body for software and IT service industry in the country which was established in 1997. Starting with only 17 member companies, by 2019 membership had grown to more than 1350. Other related associations in the country are: BCS - Bangladesh Computer Samity has been seamlessly catalyzing the public and private sectors’ ICT stakeholders of Bangladesh for last three decades. Bangladesh Computer Council (BCC) is a statutory body under the Ministry of Posts, Telecommunications and Information Technology. The BCSBD - Bangladesh Computer Society is regarded as the leading professional and learned society in the field of computers and information systems in Bangladesh.
- IT Business opportunities in Bangladesh:
- Software Development
- Mobile Application Development
- Games Development
- Website Design & Development
- ISP (Internet Service Provider)
- Domain & Hosting Service
- Digital / Online Marketing services
- Outsourcing / Freelancing
- ICT Training Center