The capacity, market size and skilled workforce of Bangladesh’s industrial sector have grown dramatically over the past decade. In this case, according to the data, the ICT sector of Bangladesh has become the most attractive sector for investment. As proof of this, the World Bank’s support has brought a solution called E-GP Soft developed by Doha Tech, which is now being used in the country. Dhaka Augmatics is now moving ahead in health tech to compete with neighboring India. Serving US hospitals. Now seven lakh youth of the country are doing IT freelancing. The youth of Bangladesh are outsourcing 16 percent of the world’s total demand. They are also doing well in AI, machine learning. With all these achievements, our GDP size has overtaken Vietnam and is now equal to Singapore.
State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak made such a claim at the opening ceremony of the 29th US Trade Show held at the Dhaka Intercontinental in the capital on Thursday jointly organized by the American Chamber of Commerce in Bangladesh (AmCham) and the US Embassy in Dhaka. He suggested to think about the next two decades and said, it is necessary to invest in Bangladesh now. Bangladesh is going to be the next Japan and Korea.
In line with his thoughts, the chief guest of the event, Prime Minister’s Investment Adviser Salman F Rahman said, our country’s tax structure needs to be overhauled to face global challenges like Covid19, Ukraine-Russia war. We have to admit, Bangladesh is now becoming an attractive investment destination. Digital network has already been created in Bangladesh by overcoming all obstacles. I strongly believe that online and digital business is most profitable. However, there are still many problems in online business in the country. Even after online processing has to be done offline. These must be resolved.
At the same time, he advised the Board of Revenue to go fully digital to expand the scope of taxation without increasing the tax burden on taxpayers.
US Ambassador Peter De Haas said at the event presided over by AmCham President Syed Ershad Ahmed that the United States has invested more than 4 billion dollars in Bangladesh as the largest source of foreign direct investment. The largest export to the United States is also from Bangladesh. 50 percent of the country’s electricity generation is through US electronic turbulators. The economic success of the past decade suggests that Bangladesh may be the most attractive area in Asia for US companies to invest in due to economic growth. In business competition, Bangladesh is doing well in the American market as well as within the country.
John Fay, Commercial Counselor of the US Embassy,;Rubaba Daula, Country Managing Director of Oracle Bangladesh, Nepal and Bhutan, a US company, spoke at the event.
The ceremony marks the official launch of a commercial service office at the US Embassy in Bangladesh. It is hoped that bilateral commercial relations will be strengthened through this office.
In this three-day exhibition, 44 domestic and foreign companies are exhibiting more than 100 American products in 77 stalls. The inauguration was preceded by a seminar on ‘Inclusive Innovation: Empowering Women in the Age of Artificial Intelligence’.
In addition, four more seminars on ‘US export approval for importers’, US study and student visas’, ‘US aid development activities in the private sector’ and ‘US business and trader visas’ will be held during the trade show.