Business conglomerate Summit Group in partnership with the government and an Indian firm will build Bangladesh's first Hi-Tech Park meant for offering world-class infrastructure for the IT industry.
To this effect, Bangladesh Hi-Tech Park Authority (BHTPA) under the Ministry of Posts, Telecommunications and Information Technology and Summit Technopolis Limited, a consortium of Summit Group, and Infinity Infotech Parks Limited India signed an agreement at a city hotel Sunday.
Managing director (MD) of the park authority Hosne Ara Begum and Technopolis' managing director Abu Reza Khan signed the consensus deal on behalf of their respective bodies.
State minister for power, energy and mineral resources Nasrul Hamid, ICT state minister Zunaid Ahmed Palak, ICT secretary Shyam Sunder Sikder, Summit Group Chairman Muhammad Aziz Khan, among others, attended the signing ceremony.
Under the venture, the company will invest $210 to develop a total land area of 91 acres in the hub for knowledge economy.
The Summit will invest the amount over the next ten years to provide infrastructural and backbone support.
Ms Begum said this agreement is the country's first-ever public-private partnership (PPP) initiative in the ICT sector.
"The park will be accompanied by an attractive financial and tax-incentive package which will help incubate and nurture homegrown start-ups, creating a world-class platform," the managing director told the function.
This package, she hopes, would provide bait for leading multinational companies like ABB, Huawei, and Siemens.
Under the agreement, Technopolis will also provide uninterrupted power and high-capacity fiber-optic connectivity with utmost security to facilitate hassle-free industrial operations.
It will create surroundings conducive to the development of hi-tech industries.
The Park will also provide state-of-the-art training facilities for up to 10,000 workers, which will allow quality employment for the migrant Bangladeshis and drive the country's emergence as a major beneficiary of the rising demand for skilled workforce.
Junior minister Mr Palak said the initiative will strengthen the ability to harness manufacturing innovations through collaboration between industries and research, both locally and globally.
He said the mission of the Park complements 'Vision 2021'as it plans to build a self-sustaining campus to promote innovation, successful commercialisation of science and technology and economic growth.
Summit Group is the country's largest power producer (IPP) generating over 1200MW. And the Group operates country's largest fiber-optic network reaching over 23,000km and fast expanding.
Infinity Infotech Parks Limited played the role of being principal catalyst in bringing about what is billed as IT revolution in West Bengal.
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