ICT export earnings have started to increase again after overcoming the obstacles created by COVID-19. This year alone, Bangladesh has earned $150 million in foreign exchange through IT services. In such a situation, the Bangladesh Association of Software and Information Services (BASIS) has demanded to double the government incentive on export earnings to 20% by 2025.
BASIS President Syed Almas Kabir made the demand at a press conference on October 27 on the occasion of organizing the Outsourcing Award for the seventh time.
He informed that 200 BASIS member companies have received more than $160 million incentives in ICT export earnings in the last financial year. However, freelancers are bringing 60 per cent of their income to the country through ‘independent’ payment cards, a joint venture between BASIS, Bank Asia MasterCard and Payoneer. Due to the complexity of foreign exchange transactions, a large portion of the country’s total export earnings from ICT is not coming to the country. In this time around, the export income of this sector has been 300 million dollars.
He said Bangladesh is becoming a significant name in the global market in ICTO exports like garment industry. Internationally, 16% of global outsourcing revenue comes from Bangladesh. India’s share here is 24%.
BASIS President Syed Almas Kabir thinks that foreign software is dominating the country due to lack of confidence even though world class software and applications are being created in the country.
Speaking on the occasion, Md. Zia Arfin, Senior Executive Vice President, Bank Asia, said, “It is very hopeful that the growth of export earnings from IT services alone is on the rise. There is no connection between this and expatriate income. But not all our banks were fully involved in identifying this income, it is our failure. We are the only bank that has earned $700 million since 2012. Of this, $150 million has been earned this year alone. But double that amount, 1400-1500 million dollars is waiting for coming in our country.
BASIS Senior Vice President Farhana A Rahman, Co-President Mushfiqur Rahman and BASIS Outsourcing 2021 Award Convener and BASIS Director Rashad Kabir were present at the press conference.
At the end of November, BASIS will give 100 awards to freelancers in different categories. In this case, more importance will be given to the users of cutting-edge technology. Interested candidates will be able to register online from tomorrow till November 11.
