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Bangladesh - Technology - January 30, 2022

Bangladesh to invest in IT sector abroad

Staff Correspondent: The Department of Information and Communication Technology (ICT) has decided to invest in the information technology (IT) sector in different countries. A proposal will be submitted to the Prime Minister for a final decision in this regard.
State Minister for ICT Zunaid Ahmed Palak made the remarks while speaking an exchange of view meeting with leaders of newly elected executive committee of the Bangladesh Association of Software and Information Services (BASIS) at the ICT Tower in the capital’s Agargaon yesterday. Chiefs of different organizations of ICT department were present there.
State Minister for ICT Zunaid Ahmed Palak said, “’Not just taking loans from countries like India, Japan or Korea; Bangladesh will also invest in different parts of the world. This time we will propose to the Prime Minister that line of credit will be introduced by Bangladesh in South Asia, Europe, America and Africa. We will introduce a line of credit of 100 million in the sector.”
He further said, “Human Resource has done, Business Friendly Policy has also been made, Technology and Innovation have also made; Now there is rest only investment. An unsecured loan was once a dream. We have given crores of Taka at 4 percent interest during pandemic. Then we started equity investment for startups. The government is taking risks to encourage entrepreneurs with innovative technology and business. Prime Minister has formed a disruptive company called Startup Bangladesh Limited Company. Apart from this, a grant of up to Tk 10 lakh is being given. Already 236 companies have received the grant. We want to invest in thousands more startups.”

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