Bangladesh’s hi-tech industry is gaming forward on the back of steady economic indicators that signal rising per capita income, a surging young-consumer market indicative of future demand for tech products and services, and favorable policies that paved the ground for local and international players to explore the market.
The emerging startup ecosystem has also been playing an instrumental role in channeling FDIs to industries like FinTech, Logistics, and Mobility since 2016.
While the ongoing government initiatives in building capacities to sustain investment are portraying a positive future, the over-supply of low-cost labor remains one of the major growth drivers for the hi-tech industry.
The unavailability of local talents, a lower rate of labor productivity, and bureaucratic barriers are some of the setbacks that are still deterring investors to explore the Bangladesh market.
Removing the barriers through creating a policy sandbox and gradually moving up the value chain in hi-tech manufacturing through developing local talents can be some of the immediate to mid-term strategies.
In the coming decade, building on the “Digital Bangladesh” brand and leveraging strong partnerships will open newer avenues for Bangladesh in the global hi-tech market.
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