Bangladesh's ICT entrepreneurs have demanded investment opportunities abroad to brighten Bangladesh's image further in the world community.
Businessmen in the information technology sector made this demand at the first meeting of the FBCCI Standing Committee on ICT and Digitization of Trade Bodies held at FBCCI Icon on Saturday.
Syed Almas Kabir, director in Charge of the committee said that if the government provided this facility, there would be an indefinite opportunity to rebrand Bangladesh. Global entrepreneurs will be able to know the potential of Bangladesh differently. As a result, foreign investment in Bangladesh will also increase. Therefore, the country's ICT companies should be included in the draft policy of Bangladesh Investment Development Authority-BIDA, Syed Almas Kabir added.
Chairman of the committee Md. Shahid-Ul-Munir said that in the meantime, a request has been made to BIDA to approve local software companies to invest abroad. The circular in this regard issued by Bangladesh Bank this week allows only exporters for overseas investment. Calling for reconsideration of this condition, the chairman of the committee said that if the existing condition is not amended, small, medium and new entrepreneurs will be deprived.
Speaking as the chief guest at the meeting, FBCCI President Md. Jashim Uddin said that it is very important to digitize all the ministries, departments and agencies of the government to continue the pace of development of the country. Especially digitization of the NBR and Central Bank is urgent.
The FBCCI Chief said the Prime Minister has declared ICT services and products as the product of the year 2022. To achieve the 5-billion-dollar export target from the IT sector by 2025, government policy support needs to be increased. Meanwhile, the FBCCI president Md. Jashim Uddin urged the standing committee to draw up a roadmap to achieve the export target.
Earlier in the meeting, the speakers informed that the current Income Tax Ordinance has given tax exemption to the ICT sector till 2024. They demanded that the exemption be continued till 2030 in the proposed new income tax law in line with the ICT policy. They also want to repeal the provision of deducting advance income tax from incentives.
Speakers complained that the Public Procurement Act, which instructs for the purchase of services from local manufacturers, is not being complied with. Although various types of ICT services are readily available in the country, local entrepreneurs are being deprived as the government bodiesare keen to invite international tenders. If the law is properly obeyed, investment in the IT sector in the country will increase and it will be possible to further strengthen the “Made in Bangladesh” branding.
Syed Almas Kabir, director in charge of the committee, said several mega projects including Padma Bridge, Metro Rail and Karnafuli Tunnel are being implemented in the country. These projects will require a good number of digital devices and services. He urged the government to buy these products and services from the local manufacturers.
A sub-committee is formed at the meeting to prepare draft recommendations for the IT sector for inclusion in the Income Tax Act and the forthcoming budget.
Co-Chairman of the Committee Shoeb Ahmed Masud, Md. MotaherHoshan Khan, Md. Nazmul Karim BiswasKazal and other members and Secretary General of FBCCI Mohammad Mahfuzul Hoque were also present at the meeting among others.
