Dear Reader,
Bangladesh is making exciting strides towards becoming a leading technology hub globally. Currently, the IT – ITeS industry is valued at ~$1 billion USD and is expected to grow five folds by the year 2025. Among other things, Bangladesh also ranks as the fifth largest mobile market in the Asia Pacific, with 156.469 million mobile and 92.466 million internet subscriptions as of Oct-18; the economy has also achieved the highest-ever 7.86% GDP growth in the 2017-18 fiscal year, widely surpassing the estimated growth of 7.65%. Moreover, the per capita income has increased to $1,751 in FY2017-18 from $1,610 in the previous fiscal year. Along with the impressive economic growth, the government is committed to make the country one of the technology hubs of the world by driving forward the Digital Bangladesh program.

Therefore we are delighted to begin a series of quarterly newsletter updates on the technology sector of Bangladesh to abreast you of the happenings, deals, partnerships & government programs that are running. We are excited by the prospects that Bangladesh hold and look forward to the future with great eagerness and aspiration.

Regards,

Rezaul Karim
Project Director
Leveraging ICT for Growth, Employment & Governance

Bangladesh on way to be a gadget-making hub
The availability of workforce at a competitive wage, growing domestic market demand and a favorable policy are some of the key factors that make Bangladesh an attractive hub for high-tech manufacturing, according to a survey.

In its report, International Data Corporation (IDC) found success stories of local and international manufacturing companies, such as Walton, Samsung, and others.


Source: IDC | Read time: 3 min
Learn more | Download IDC Report
Fifth Largest Mobile Market in APAC: In a Nutshell
The mobile industry in Bangladesh has scaled rapidly over the last decade to become the fifth largest mobile market in Asia Pacific, with 85 million unique subscribers in 2017 – half the population. By helping to promote digital inclusion and support the delivery of essential services, the mobile industry makes a vital contribution to the economy of Bangladesh and plays a crucial role in supporting the achievement of the government’s Digital Bangladesh and Vision 2021 initiatives, as well as the UN’s Sustainable Development Goals (SDGs).

Source: GSMA Intelligence | Read time: 18 min


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Bangladesh to become the 24th largest economy in the WELT table
Centre of Economics and Business Research (Cebr) forecasts annual rates of GDP growth to average 7.0% between 2018 and 2033. This will see the Bangladesh climb 19 places in the World Economic League Table to become the world’s 24th largest economy by 2033

Source: Centre for Economics and Business Research (Cebr) | Read time: 5 min
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Figure: GDP Growth Trend and Ranking
Betting on the Future – Bangladesh has the lowest cost of operations globally
According to Everest Group, “Bangladesh has the lowest cost of operations globally” Drawing from insights from Everest Group’s existing research and combining it with recent interactions with market players and government bodies, this study evaluates the current IT-ITeS delivery landscape in Bangladesh, and discusses the on-ground experiences of companies operating in the country. Further, the study also offers perspectives on key enablers and considerations for the IT-ITeS industry in Bangladesh and key roles the location can play in delivery portfolios of global service providers.

Source: Everest Group | Read time: 12 min
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Accelerance partners with Bangladeshi government to support Digital initiative
Accelerance, a leading consulting firm for software outsourcing strategies, has signed an MoU with Bangladesh Computer Council (BCC) to play a role in augmenting the IT ecosystem. Based on the technical and readiness assessments of the local software companies, Accelerance has on-boarded six companies with more companies in the pipeline.


Source: Accelerance | Read time: 3 min


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Why Bangladesh Is Making Waves In The Tech Scene
Bangladesh, a country that is the size of New York state with a population of 160 million, is making waves in the tech scene with a GDP growth four times that of the United States. There are now a handful accelerator programs, co-working spaces, and government involvement in the tech space in order to augment the country's tech capabilities and compete on a global scale.

Source: Forbes | Read time: 2 min