Hi-Tech Industry in Bangladesh

Hi-Tech Industry in Bangladesh Sep 13, 2022

In Chittagong, Ultimate IT Solution Ltd provides all kinds of IT-related solutions.

If 65 percent of the population of any nation is under 35 years of age, the opportunity is surely there to grab it. By all means, the country's population structures offer an advantage for digitization to happen. But a comprehensive plan should be framed. Before establishing the high-tech park there is a plan should be prepared for the population for reaping the benefits of the fourth industrial revolution. Let education be streamlined to meet the challenges of ICT. Like Bangladesh is a populous country, the hullaballoo over artificial intelligence is rather misplaced. Need to ensure enough, that there are some other areas of this technology, where development can bring rich dividends to the country. Rather than becoming educated and unemployed, the young generation needs a high level of sophisticated technical knowledge and expertise to compete with their counterpart in other parts of the world. Bangladesh has been trying produced IT professionals in an increasing number but still, they cannot achieve the target. Front-runners among them are just a handful.

Bangladesh Hi-Tech Park Authority (BHTPA) is establishing Hi-Tech Park, Software Technology Park, and IT Training & Incubation Centre throughout the country to attract local and foreign investors for the development of Hi-Tech, IT, ITES, and semiconductors industries. It creates huge employment opportunities and skilled human resources. Ultimate IT Solution is the renewed software company in Chittagong. Right now Ultimate it solution ltd creates more employment with skillful people. Not only that Ultimate it solution ltd trained unskilled people to grow up for the future IT market.

The hi-Tech park is full of opportunities to invest in the Hi-Tech industry and promote businesses that are knowledge and capital-based. Information technology, Software Technology, Bio-Technology, Renewable Energy, Green Technology, IT Hardware, semiconductors, Enabled Services, R&D, etc. are major areas of investment in the Hi-Tech industry in Bangladesh. Ultimate IT solution Ltd has the same vision to contribute to the Hi-tech industry. Ultimate it solution develops different types of customized software such as freight forward, Shipping management Software, point of sales, accounts and inventory, Transport and vehicle parts management, tiles and sanitary software and so on.

Right now BHTPA has established more than 11 Hi-tech parks all over Bangladesh. Bangabandhu Hi-Tech Park is the largest hi-tech park situated in Gazipur. Chittagong, Jessor, shylet, Dhaka, Rajshahi, etc. some private organizations also establish Hi-tech parks. Such as Korean Epz Authority set up a Hi-tech park in their zone. In future, Ultimate It Solution has planned to establish its own tech park.

One floor is dedicated in each of the parks for the accommodation of newly set up companies or individuals With a vision to create new entrepreneurs in Hi-Tech Industry or Information Technology industry, The space will be allocated to the efficient Start-Up company or individuals free of cost. Moreover, BHTPA is provided, mentorship services for the development of Start-Ups along with investors and financial institutions.

 Bangladesh Govt. announced 12 years duty-free for park developers. Govt. also announced 10 years exemption of Income Tax for investors. Skipped of Import Duty, Regularity Duty, and Supplementary Duty for locally production of Automated Taller machine and CC camera; Escape of Duties on importing Capital Equipment and Construction Materials by the local and foreign Investors; Hi-Tech Park Authorities is declared as Bonded Warehousing Station; Exemption of Income Tax on Dividend, Share Transfer, Royalty, Technical Fees for investors; Exemptions of Income Tax for Foreign Employees and investors; Exemption of Income Tax on declared Dividend by Park Developers; Exemption of VAT during production level of goods by the Investors; Exemption of Duties on importing Goods or Materials to be used for the development of Hi-Tech Parks by the Park Developers; Exemption of Duties on importing Transport by the investor; Exemption of stamp duty on the deed registration/ mortgage deed registration. Ultimate IT Solution has already enjoyed the duty exempted as per the decision of the Bangladesh govt.  Already many companies get licenses to set up their industries in the park. Such as Samsung, Rangs, Walton, Flora telecom, Vibrant (Nokia), Edission Group, Hyundai, and so on. 

A One Stop Service Center has been created and an Online One Stop Service Portal (https://ossbhtpa.org/) has been developed by BHTPA for ensuring rapid service delivery related to investing in Hi-Tech Parks among the Local and Foreign Investors. Right now 148 services are identified to provide to the investors by a one-stop service portal. Out of the 7 (Seven) services are provided online to the investors through the one-stop service portal. The rest of the services will be incorporated gradually into the one-stop service portal.

Bangladesh Hi-Tech Park Authority has been certified with ISO 9001:2015 Certificate on 25-02-2019 considering its success and achievements for the visionary plan. Both Local and Foreign Investors are attracted to invest in Hi-Tech Parks for maintaining the International Standards in case of delivery of services and activities by the Bangladesh Hi-Tech Park Authority (BHTPA).

Bangladesh Hi-Tech Park Authority has been rewarded with The Digital Bangladesh Award-2018 for its brilliant activities and excellent contribution to the enhancement of ICT including emerging technology, green technology, human resource development, research, and development, creating more employment opportunities and attracting both local and foreign investors to invest in Hi-Tech park.

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