'Youth Passion and Creativity Will Take Bangladesh to New Heights'

The passion, creativity, and talent seen among the country's startups leave no doubt that they will take Bangladesh to new heights in the future, said Rehan Asif Asad, the Prime Minister's adviser on posts, telecommunications, and information technology.
He made the remarks as special guest on Tuesday, July 14, at an event titled "Youth, Startups, and the Potential of Bangladesh," held at the Nawab Ali Chowdhury Senate Building of Dhaka University.

He said the government, in this year's budget, has removed obstacles related to VAT, tax, customs, and duties alongside providing policy support to help emerging innovative ventures reach the global stage. He also expressed the government's commitment to helping growth-stage startups in Bangladesh expand into the global market through support from a Tk 500 crore fund. To that end, he called on young innovators and entrepreneurs to develop products and services that meet global standards.

Noting that Bangladesh has no shortage of talented and passionate young people, Rehan Asif Asad said, "Over the past four months, I have seen such passion, creativity, and talent among the country's startups that there is no doubt they will take Bangladesh to new heights in the future."

He said that after assuming office, he held repeated meetings with startups to identify the challenges and barriers hindering their growth, based on which special provisions were included in this year's budget to provide policy and financial support to the startup sector. With cooperation from the prime minister and the finance minister, a Tk 500 crore startup fund has been established. Additionally, a 15 percent VAT and tax exemption has been granted for the next 10 years, during which startups will be taxed on profit rather than income.

Citing the examples of the United States, South Korea, and China as global leaders in the startup ecosystem, he said these countries reached their current position through startup companies. Leading American startup-origin companies include Apple, Amazon, Microsoft, and HP. Similarly, in South Korea, companies like Samsung and SK Hynix are at the top. He added that startups have also served as a driving force behind economic progress in India and Japan.

In his speech, he also highlighted the potential of local startups such as iFarmer, ShareTrip, Rafiha Fashion House and Chorcha.

The event was chaired by Prime Minister Tarique Rahman, with Minister for Posts, Telecommunications and Information Technology Fakir Mahbub Anam also speaking as special guest.

The opening remarks were delivered by Md. Mamunur Rashid Bhuiyan, Acting Secretary of the ICT Division, while the welcome address was given by Professor Dr. Md. Morshed Hasan Khan of the Department of Marketing at Dhaka University.

The event was also attended by Startup Bangladesh Limited Managing Director and CEO Nurul Hai; Dhaka University Vice-Chancellor A B M Obaidul Islam, Pro-Vice-Chancellor (Academic) Professor Dr. Abdus Salam, Pro-Vice-Chancellor (Administration) Al Mozaddedi Alfesani, and Convener of the White Panel Professor Dr. Md. Morshed Hasan Khan, among other dignitaries.
//DBTech/IH/SI//