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July 25, 2022 - Mohammed Monirul Moula, Managing Director and CEO of Islami Bank Bangladesh Limited, speaking at Half-Yearly Business Development Conference organised by the bank’s Dhaka Central Zone & Corporate Branches at its head office in the capital on Sunday. Muhammad Qaisar Ali, AMD, J Q M Habibullah, DMD, Mohammad Jamal Uddin Mazumder and Mohammod Ullah, SEVP of the bank were present.
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May 26, 2022 - A five-member delegation led by Bangladesh Chamber of Industries (BCI) President Anwar-ul-Azim holding a meeting with Dr Angelika Fleddermann, Country Director of GIZ at the latter’s office in the city on Tuesday.
May 26, 2022 - Modhumoti Bank Limited, rec has been awarded with Letter of Appreciation by Bangladesh Bank (BB) for 100% disbursement of special stimulus refinance scheme for Covid-19 affected agricultural sector. BB Governor Fazle Kabir handed over the letter to Md. Md. Shafiul Azam, Managing Director & CEO of Modhumoti Bank Limited, at BB headquarters recently. Top executives from both sides were present.
May 26, 2022 - Energy-power sector master plan to be ready by Nov
May 26, 2022 - Hassan O. Rashid, Managing Director & CEO of Prime Bank Limited, inaugurates the first-ever 24X5 Trade Shop Service Initiative at a programme in the capital recently. Top officials of the bank were present.
May 23, 2022 - Big, Bold, Beautiful: The all-new Nissan Magnite launched in Bangladesh Loaded with first-in-class features, the B-SUV combines a ‘carismatic’ design, powerful performance and advanced technologies to be the ideal companion for city adventures

Marching forward towards a Digital Bangladesh

While addressing the joint celebrations of Digital Bangladesh Day 2021 and Digital Bangladesh Award Distribution Ceremony at the city’s Bangabandhu International Conference Centre through a virtual summit – Prime Minister Sheikh Hasina said she is no longer worried about the fulfilment of her Vision 2041 – turning Bangladesh into a developed and prosperous country. She applauded the award recipients for gradually realising the dream of a prosperous Bangladesh.

It is indeed encouraging to note that our young innovators are showing growing courage as their talents keep flourishing through innovative schemes. Giving a boost to the ICT sector, the PM also said if digital devices can be produced and exported properly, it may exceed all other sectors, including RMG, in earning foreign currency. However, the ICT sector is the fastest growing among all sectors in our economy. The country has fast emerged as a freelance IT and IT-enabled services outsourcing (ITES) centre.

We acknowledge the abbreviation “ICT” is no longer a luxurious word, rather it has become one of the basic needs during the pandemic time. Online meeting, virtual conference, online education, telemedicine, e-commerce and many other sectors had grown significantly during the last one and a half year, and the country did not come into a complete standstill despite the pandemic.

Although the government’s allocated budget for the ICT sector has increased this year by 690 crores, but it is essential to develop the software development sector coupled with developing skilled human resource, otherwise the backbone of this industry. That said – the hiked up budget does not have a clear breakdown of the allocated amount. Moreover, it is not clear how much has been set aside to procure software and ITES and maintenance.

Undeniably, more local and foreign investments are needed in this sector. In order to attract investors, the tax exemption period should be extended to 2030. The sooner this decision is taken, the more investors will be interested in investing in the sector. We request the government authorities concerned to sincerely consider this suggestion. Another food for thought, if broadband internet services can be expanded to remote areas at an affordable rate, our young people will be able to start their own ventures using internet and start contributing more to the economy. Not to forget, Bangladesh has already become the second-largest supplier of online labour.

Around 500,000 active freelancers are working regularly, out of 650,000 registered freelancers in the country and they are reportedly generating $100 million annually, according to the ICT Division of Bangladesh. Thus, the country has already become a key player in the digital world. Digital economy is shaping the new Bangladesh. Therefore, the corporate tax exemption on internet service providers, also a key stakeholder of the Digital Bangladesh Vision, will lead to infrastructural development and increased employment and economic activities.

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