Software and ITES Industry in Bangladesh

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Offline liakwat

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Software and ITES Industry in Bangladesh
« on: May 17, 2016, 06:34:30 PM »
Bangladesh has identified ICT as a "thrust sector" as it represents potential for successful reforms, job creation, industry growth and high spillover effects to other sectors as well as improving governance and facilitating inclusion. The current World Bank's Country Assistance Strategy for Bangladesh also recognizes the key role of ICT in supporting Bangladesh’s growth, competitiveness and governance agenda. The Information Technology (IT) Services, and IT-Enabled Services industry presents an attractive segment worth USD 475 billion that countries are competing for.

The ICT industry in Bangladesh, especially software and ITES industries, is relatively small compared to the size of its national population (150 million plus), and the size of the national economy. However, the software and ITES industries in this country have started rapidly growing in recent years. The average yearly growth rate of these industries here has been over 40 per cent for recent five years, and this growth rate is expected to continue. This optimistic growth is supported by good software export trends and large demand for IT automation in domestic market. Recently in Bangladesh, large-scale automation projects have been widely implemented in the sectors of telecom, banking, finance, pharmaceutical, and garment/textile industries. Domestic demand for software and ITES industries is expected to increase more.