Proper policy support and required incentives can create a $10 billion semiconductor industry by 2041 in Bangladesh.
Experts made the observation at a seminar on 'Unleashing the potential of semiconductor industry in Bangladesh' organised by Dhaka Chamber of Commerce and Industry (DCCI) in the city on Wednesday.
They said the semiconductor manufacturing industry needs incentives as it has a great potential to be a billion dollar sector in Bangladesh.
There are a few design houses and they are doing well but the chip fabrication, assembly, testing and packaging sectors are still lagging behind, they added.
Zunaid Ahmed Palak, state minister for Posts, Telecommunications and Information Technology, was present as the chief guest at the seminar.
DCCI President Ashraf Ahmed stressed the need for successful implementation of import-substitution industrialisation and export diversification. "We should prioritise the development of the semiconductor industry."
Many countries are investing heavily in the semiconductor industry, creating a high demand for skilled workers, he said.
The government should focus on cultivating a skilled workforce required to meet the growing demands of the semiconductor industry in Bangladesh, he added.
He also underscored the importance of simplification of administrative procedures for setting up semiconductor businesses, including licensing, permits, and import, export regulations.
He further said that a transparent and efficient regulatory environment will encourage investment and reduce operational hurdles.
The DCCI chief recommended ensuring robust protection for intellectual property (IP) to encourage innovation and attract foreign investors.
Bangladesh also needs a holistic framework to develop an ecosystem for sustainable and inclusive growth of the semiconductor industry taking into account the views of stakeholders, he opined.
Zunaid Ahmed Palak said the uses of microchip, Nano chip and manufacturing of semiconductors are growing day by day and a right policy support will make it possible to earn at least $10 billion by exporting semiconductor items by 2041.
He again reiterated the urgency and need of a semiconductor policy for the faster development of this sector.
At the same time, he also called for an industry-academia collaboration to create high-skilled and technologically advanced workforce for this sector as the demand is very high at home and abroad.
"And if we can give proper policy support, incentive and guidelines coupled with skilled manpower and high-end sophisticated technology, we will be able to achieve the target of smart Bangladesh by 2041," he said.
"We have to adopt a plan to create at least 50,000 chip designers in the country," he added.
GSM Jafarullah, managing director, Bangladesh High-Tech Park Authority, said that the government is developing innovation hubs in 10 universities in the country.
Professor ASMA Haseeb, Department of Nanomaterials and Ceramic Engineering, BUET presented the keynote paper.
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