Bangladesh as ‘A significant Software Exporter’ in 2019

03 Oct Bangladesh as ‘A significant Software Exporter’ in 2019

|The New Factor Impacting Software Offshoring|

Around two decades ago, Bangladesh started working on IT Sector to strengthen nation-wide IT infrastructure, build up digital platforms and skilled IT labor force. A magnificent development has taken place in Bangladesh’s IT sector and considerable achievements have already been made towards ‘Digital Bangladesh’. The country has seen exponential growth in internet connectivity, mobile phone usage, IT export earnings and use of ICT in education and accessibility of public services, driven by widespread digitization in the public and private sectors.

As automation has increased the exposure of country to the development and sustainability, Bangladesh Govt. has put a special emphasis on utilizing information and communication technology (ICT) by providing various kinds of facilities, incentives, high-tech park, supporting local industry and budgetary support for ICT. According to the Global Competitiveness Index 4.0 2018, released by the World Economic Forum (WEF) on October 16, Bangladesh scored 40.00 in ICT adoption, while its neighboring country India scored 28 followed by Pakistan 23.6 and Sri Lanka 32.9

All the efforts have brought a significant result of making Bangladesh an emerging country in the technology world; ranked 21st in IT outsourcing, business process outsourcing and software development. Bangladesh is now exporting software and ICT related products to more than 50 countries around the globe, and some of them are developed countries. And the number of countries availing these services from Bangladesh is increasing every year.

According to BASIS, Bangladesh has earned about $1 billion (around 890 million euros) in 2017 through its IT services. Now the government focuses on ‘a five-billion-dollar dream’- wants to earn $5 billion (around 4.4 billion euros) within 2021.

Factors that have impact on making Bangladesh to be the best outsourcing destinations for tailor-made software development can be highlighted as-

   – Government Budgetary Support;

   – Government Policy Support;

   – Contribution of Private companies to IT sector;

   – Contribution of young talented generation like they’re entering into the ICT business and come up with innovative startup ideas;

   – Scope for talent pool & IT education;

   – Private IT/Software Companies of Bangladesh ready to bring new dimensional services adopting new technologies/ strategies;

   – Actively attracting international market by maintaining product quality;

   – Facilitating IT training institute;

   – Ease of e-commerce, e-learning & payment method;

As it’s been observed, our IT industry is in the right track and contributing to the country’s GDP, leading to a steady growth of Bangladesh economy. Some renowned software companies of Bangladesh have already started working on several international projects and it helps to put a good remark in the global market. African countries like Kenya, Cameroon, Tanzania are becoming the significant marketplace for exporting software. Besides our software company is also working to expand its outreach in potential market including USA, Australia, Denmark, UK, Japan and so on.

In 2019, Bangladesh is in the position where we can say IT & Software development sector will bring more foreign currency than RMG industry and Software products will be considered as the most profitable exported goods within few years.

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