Speakers at a webinar said that it is the right time to build a sustainable hi-tech manufacturing ecosystem in Bangladesh
They said Bangladesh Hi-Tech Park Authority is getting prepared to bring about a revolution in the country's high-tech industry, it has taken various initiatives to attract investment in high-tech parks in the aftermath of Covid-19.
The remarks were made on the second day of the webinar titled 'Beyond-2020' on Friday, organised by Bangladesh High-Tech Park Authority in the capital.
‘Beyond-2020’ has started from yesterday with the aim of discussing the progress of Bangladesh in the field of skills development, start-ups and investment.
The series of webinar is being organized on an online platform to inform domestic and foreign investors about the usefulness of investing in high-tech parks.
The second day of the webinar discusses various incentives for investors, including high-tech park authority incentives and one-stop services.
Experts said that Bangladesh is now the most favorable environment for foreign investment in South Asia. Incentive packages, human resource development, supportive infrastructure, favorable export conditions, diplomatic relations with leading consumer countries, etc., indicate that Bangladesh is ahead of nine emerging destinations in the world, including India.
On the other hand, as China's relations with European countries, including the United States, have deteriorated under the changed circumstances, Western investors are looking for new destinations where South Asian countries will be given priority.
The second day of the webinar was attended by NM Ziaul Alam, Senior Secretary, Department of Information and Communication Technology.
He said now is the right time to build a sustainable high-tech manufacturing ecosystem in Bangladesh where the Bangladesh Hi-Tech Park Authority can play a leading role.
"A labor-intensive economy is not enough to survive the competition of emerging economies to overcome the risks of a global recession after Covid-19.
In the current context, countries that are focusing on developing knowledge-based and technology-based industries will be able to attract FDI (foreign direct investment). Realizing this reality, Bangladesh High-Tech Park Authority has been working relentlessly from the very beginning to develop technology-based infrastructure", he added.
Hosne Ara Begum ndc, Managing Director (Secretary) of Bangladesh Hi-Tech Park Authority, said that 5 Hi-Tech Parks in the country are ready for investment at the moment. Various companies are already working on 355 acres of land in Bangabandhu Hi-Tech City at Kaliakair in Gazipur.
The products produced from here are being exported abroad. In just four years, more than 500 million has been invested in high-tech parks by domestic and foreign investors.
Recently, a Chinese giant named Orix Biotech Limited has signed an agreement to invest300 million in Bangabandhu Hi-Tech City, Kaliakair. Besides, several other companies including Samsung, Nokia and Walton are preparing to work in this park.
Sultan Lutah, Chairman of Vault Investments based in UAE, MuizTasnim Taki, Associate Vice President of Ernst & Young, Bangladesh, Bijan Islam, CEO of LightCastle Partners, Shaibal Chakraborty, Managing Director of Boston Consulting Group also spoke in the webinar.
This webinar series is organized by a local initiative called Inspiring Bangladesh with the support of Bangladesh Hi-Tech Park Authority.