Dear *|FNAME|*,
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 Asia Pacific, with 159.780 million mobile and 93.102 million internet subscriptions as of Mar-19; 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 continue the 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 Emerges as a Distinctive Digital Hub for Emerging Technologies
Bangladesh is one of the world’s fastest-growing economies with an annual GDP of $249.7 billion and a growth rate of 7.86% in 2018 with a stable growth rate of more than 6% for last five years. It is expected to be the second fastest-growing economy in the world going forward. Its population includes 80 million people younger than 25 years old and more than 157 million verified mobile phone subscribers. This economic growth accompanied by a large, young, digitally savvy population and significant government-led initiatives, including the Digital Bangladesh program, make Bangladesh an attractive destination for emerging technologies.

Source: HFS Research | Read time: 12 min
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Tech Mahindra to fuel digital growth in Bangladesh
Tech Mahindra will fuel digital growth in Bangladesh across Government and Private sectors. It plans to address the growing business opportunities that have come up with the booming IT market in the country through innovative next-generation technology solutions and service offerings. "With a sustained GDP (Gross Domestic Product) growth rate of more than 7%, rising per capita income and improved social indicators, Bangladesh has become one of Asia’s most remarkable success stories in recent years." said Mr. Sujit Baksi, President of Corporate Affairs at Tech Mahindra.

Source: VAR India | Read time: 4 min


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Bangladesh Hosts BASIS Softexpo 2019, the largest technology software and service expo in South Asia
Posts, Telecommunications and ICT Minister Mustafa Jabbar present as chief guest in the closing ceremony of the 3-day long expo. In his speech, Mustafa Jabbar said, "The government is expecting to roll out 5G services on December 16, 2021. We are very much aware of the consumers' demand and that's why we have fixed the date for 5G." He hoped that Bangladesh will be in the top country among others in the world in technology advancement in next five years.

Source: The Asian Age | Read time: 2 min
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2019-20 Bangladesh ADP to be 21% higher than current fiscal year
The government is set to fix the size of the development budget at Tk 202,721 crore for 2019-20, up 21.39 percent from the current fiscal year, as it looks to mobilise a higher amount of foreign aid piled up in the pipeline.

Source: The Daily Star | Read time: 3 min
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Bangladesh Economic Outlook 2019: A resilient economy in need of sound policy
Driven by strong private consumption, public investment and remittance inflows, Bangladesh’s economy expanded by a remarkable 7.86% to USD 275.8 billion in 2018 , recording the highest growth rate in the country’s history. 2018 marked a 5-year run of continuous increase in the country’s GDP growth rate, a trend that is also forecasted to continue. One of the most densely populated economies in the world, Bangladesh has continued making impressive strides in achieving social development goals for its 167 million citizens. However, sound economic policy must be implemented to mitigate underperformance of the financial sector, diversify exports and create better employment opportunities by increasing private investment.

Source: Databd.co | Read time: 8 min
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