Hi-Tech Industry in Bangladesh
Located in Chittagong, Ultimate IT Solution Ltd provides a wide range of IT-related solutions. As a leading software company, it focuses on creating employment opportunities and training unskilled individuals to develop expertise for the future IT market. The company is dedicated to contributing significantly to the growth of the Hi-Tech industry in Bangladesh.
Youth and the Potential for Digitization
Youth Demographics: With 65% of the nation’s population under 35, Bangladesh has an immense opportunity to leverage its young workforce for digitization efforts. This demographic advantage can drive innovation, entrepreneurship, and growth in the IT and Hi-Tech sectors.
Education and ICT Alignment: Education systems must be tailored to address the challenges posed by rapid technological advancements. By integrating ICT-focused curricula, the younger generation can be equipped with the necessary skills to thrive in a global digital economy.
Overcoming Challenges: Despite efforts to produce IT professionals, Bangladesh faces difficulties in meeting its targets. Only a small fraction of graduates excel in their fields, highlighting the need for more robust training and development programs to bridge skill gaps.
Bangladesh Hi-Tech Park Authority (BHTPA) Initiatives
Establishments and Contributions
Hi-Tech Parks: Over 11 Hi-Tech Parks have been established across the country, including the largest—Bangabandhu Hi-Tech Park in Gazipur. These parks serve as hubs for technology development, fostering collaboration between local and international stakeholders.
Facilities: Dedicated spaces in these parks are offered free of cost to start-ups and new companies. This initiative aims to nurture entrepreneurship and encourage innovation among emerging businesses.
Mentorship Services: To ensure the success of start-ups, BHTPA provides mentorship programs that connect entrepreneurs with experienced professionals, investors, and financial institutions for guidance and support.
Areas of Investment
Information Technology: Development of software solutions, IT services, and digital tools.
Software Technology: Creating platforms and systems to support various industries.
Bio-Technology: Exploring advancements in biological sciences for healthcare, agriculture, and sustainability.
Renewable Energy and Green Technology: Promoting eco-friendly solutions to address energy and environmental challenges.
Semiconductors and IT Hardware: Enhancing local production capabilities for hardware components essential to modern technology.
Research and Development (R&D): Encouraging innovative projects that drive technological advancements and industry growth.
Government Incentives for Investors
Tax Exemptions:
Investors are granted 10 years of income tax exemption, significantly reducing operational costs and encouraging long-term investments.
Park developers enjoy 12 years of duty-free benefits, fostering infrastructure growth.
Duty Waivers:
Import duties are waived for capital equipment and construction materials, making it easier to establish facilities and industries.
Locally produced items like Automated Teller Machines (ATMs) and CC cameras are exempt from regular duties, boosting domestic manufacturing.
Additional Benefits:
Parks are designated as bonded warehousing stations, allowing for tax-free storage of goods.
Exemptions on stamp duties for deed registrations and mortgages simplify legal processes.
VAT exemptions during the production stage lower costs for investors, enhancing profitability.
Ultimate IT Solution Ltd’s Vision and Contributions
Customized Software Development:
Freight Forwarding: Streamlining logistics and supply chain operations with efficient software solutions.
Shipping Management Software: Offering tools to manage shipping schedules, tracking, and coordination effectively.
Point of Sales (POS): Developing systems to optimize retail transactions and customer management.
Accounts and Inventory Management: Creating integrated platforms for financial tracking and stock management.
Transport and Vehicle Parts Management: Delivering software tailored to maintain transport fleets and inventory for vehicle parts.
Tiles and Sanitary Software: Providing industry-specific solutions for managing tile and sanitary product inventories and sales.
Future Plans:
Ultimate IT Solution Ltd has ambitious plans to establish its own Hi-Tech Park, contributing further to the country’s technological and economic development.
Achievements and Partnerships
Key Partnerships: Many prominent companies have acquired licenses to operate within the Hi-Tech Parks, showcasing the sector’s growth potential. These companies include:
Samsung: A global leader in electronics and technology.
Rangs and Walton: Major players in domestic electronics manufacturing.
Flora Telecom: Pioneers in telecommunications solutions.
Vibrant (Nokia): Leaders in mobile and communication technologies.
Edison Group and Hyundai: Innovators in various technological domains.
Recognition:
BHTPA’s achievements include ISO 9001:2015 certification, reflecting its commitment to maintaining high standards in service delivery.
The Digital Bangladesh Award-2018 recognized BHTPA’s contributions to ICT growth, emerging technologies, green initiatives, and employment generation.
Online Services and One-Stop Solution
- The portal (https://ossbhtpa.org/) is designed to provide rapid and efficient services to investors, facilitating the establishment and growth of businesses in Hi-Tech Parks.
- Out of 148 identified services, 7 are currently available online, with more being integrated gradually. This system simplifies processes and improves accessibility for both local and foreign investors.
The Bangladesh Hi-Tech Park Authority is driving innovation and growth in ICT by creating skilled human resources, fostering entrepreneurship, and attracting investments. Companies like Ultimate IT Solution Ltd play a crucial role in shaping the Hi-Tech industry’s future, leveraging government incentives, and contributing to employment and technological advancements in Bangladesh.