BD businessmen luring European investors to invest in ICT sector

FE Team | Published: April 03, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

FE Report
Bangladeshi entrepreneurs are trying to convince and lure the European investors, especially from the Netherlands, to invest in the country's information and communication technology (ICT) sector.
This was evident from a business session arranged by Bangladesh Association of Software and Information Services (BASIS) between Bangladeshi and Dutch entrepreneurs at its office in the city Wednesday.
The BASIS in partnership with the Embassy of the Kingdom of the Netherlands and Nyenrode Business University organised the session on "Business Partnership Opportunities for Foreign IT companies."
The leading software and communication-based trade body (BASIS) has been organising a series of meetings locally and in different European cities to promote the country's ICT sector by attracting foreign investment.
A delegation comprising ten Dutch IT companies took part in the event that focused on group to group consultation with the local entrepreneurs.
BASIS sources said different Dutch companies expressed their interest to invest here in ICT related service sector and asked questions relating to investment security.
Speaking at the session BASIS President Shameem Ahsan highlighted that in Bangladesh, industry people have a strong position in policy making. That is why the investment environment is good here.
Talking about political uncertainty, Mr Ahsan said, "Due to the elections, we have faced some challenges but these can't affect our growth."
State Minister for Posts, Telecommunications and Information Technology Zunaid Ahmed Palak said, "ICT is identified as the key pillar and enabler for the country's socio-economic transformation and development."
He also said the government has a promise to promote ICT services industry in the country - providing cheaper bandwidth and alternate connectivity.
Moreover the government has taken appropriate and immediate measures in creating world class IT infrastructure by setting up a dozen of Hi-Tech parka at different parts of the country.
The Dutch delegation will also visit Kaliakoir Hi-Tech Park today (Thursday) and attend more networking sessions.
BASIS director AKM Fahim Mashroor in his presentation said there is no corporate tax for software and IT services in the country while there is zero tax for computer and hardware import. At the same time foreign companies can repatriate 100 per cent of their profit.
Mr Fahim has convinced the Dutch entrepreneurs that there are simple foreign currency regulations and copy right. The information security law is also very strong here.
BASIS has also offered the delegation to meet with the Bangladesh Bank and the Board of Investment to get more confidence.
The trade body informed the session that the export revenue in this sector has increased enormously from US$ 24 million to $ 200 million in last five years and they targeted to earn $ 1.0 billion within next five years.