A report prepared by a global consulting and research firm IDC, revealed that Bangladesh would be a world-class hi-tech manufacturing hub with an attractive destination for future investments due to policy support, competitive wage structure and domestic market demand.
“The recent policies around hi-tech manufacturing was instrumental in realizing Foreign Direct Investments (FDIs) of over $11 billion in 2017”, said Partner and Managing Director of Kuala Lumpur office, Boston Consulting Group (BCG) Zarif Munir, while briefing the media today at the BCC conference room on IDC report titled: `Driving a Digital Bangladesh Through Hi-Tech Manufacturing’ .
Minister of Posts, Telecommunications, and Information Technology Mr. Mustafa Jabbar, Global Chairman of The Boston Consulting Group Dr. HansPaul Burkner, Executive Chairman of Bangladesh Investment Development Authority (BIDA) Mr. Kazi M Aminul Islam, Ms. Zuena Aziz, ICT Secretary were among others spoke at the press briefing.
Component Team Leader of Leveraging ICT for Growth, Employment and Governance (LICT) Project Mr. Sami Ahmed conducted the briefing session.
The report said the government is aware about the challenges that are required to make Bangladesh a global brand has ecosystem.
The availability of workforce at a competitive wage structure, domestic market demand and a favorable policy structure are some of the factors that make Bangladesh an attractive market for hi-tech manufacturing, the report said and added success stories of manufacturing organizations, such as Walton and Samsung provide evidence of the support provided by the government of Bangladesh.
The report predicted that in the long run the combination of the said factors would aid in making Bangladesh a world-class hi-tech manufacturing hub and an attractive destinations for future investments.
The government has been making proactive efforts through the industry outreach programmes and events to bring increased transparency around policies, the report said.
The report also said the opportunity for mobile phones in Bangladesh is substantial and companies such as Walton, Symphony, Aamra Companies, Samsung (Fair Group) and Transsion Holdings have already set up or close to setting up assembly facilities.
Mentioning the prospect of the hi-tech manufacturing sector the report said there has been mobile market of $1.18billion and laptop market of $165 million. Bangladesh imported 34 million mobile phones in 2017, the report added.
The Market Note can be accessed in the following link: [http://lict.gov.bd/uploads/file/strategic/strategic_5b8e69a97550b.pdf]