Rising Global Confidence in Bangladesh: Some Testimonials
- Goldman Sachs recognized Bangladesh as one of the Next Eleven (N-11)- a list of eleven countries having strong potential for become the world’s largest economies along with BRIC (Brazil, Russia, India and China), with highly promising outlooks for investment and future growth
- JP Morgan named Bangladesh as one of the ‘Frontier Five; (along with Vietnam, Kazakhstan, Kenya and Nigeria), a group of selected emerging countries having promising macroeconomic performance and demographic trends (Bangladesh has the 5th largest economically active population in the world).
- European Commission has included Bangladesh as one of the top 20 IT Outsourcing destination.
- Bangladesh has been enlisted in the Gartner’s report as one of the top 30 IT Outsourcing Destination.
- World Bank has ranked Bangladesh as 17 for investor protection.
- Moody’s has rated Bangladesh Ba3 stable rating for 4th consecutive years while S&P has rated BB-for 3rd consecutive years.
- AT Kearney ranked Bangladesh as 26th Best Destination for BPO/ITO
|Population total (million)||160|
|Population, annual growth rate (%)||1.2|
|Population, forecasted annual growth rate (%)||1.6|
|Expectancy at birth (years)||63.1|
|Population, urban (% of total population)||25.1|
|Population under age 5 (% of total population)||35.2|
|2005 (% of total population)||61.3|
|2025-projected (% of total population)||89|
|Population aged 65 and older (% of total population)||3.5|
|Women in economic activity (female rate as % of male rate, aged 15 and older)||61|
|Literacy rate (%)||62.66|
|Youth literacy rate (% aged 15-24) 2004-2008||74.5|
|Net primary enrolment rate (%) 2005-2009||85.5|
|Net secondary enrolment rate (%) 2005-2009||41.5|
|Tertiary students in science, engineering, manufacturing and construction (% of tertiary students), 1999-2005||20|
|No. of total enrolled students as tertiary level (college & Universities)||1.2 millions|
|No. of graduates passing out every year||0.25 millions|
|No. of colleges and Universities||1,797|
|Public expenditure on education (% of total government expenditure), 2002-2005||14.2|
|Others Technical Institute||3224|
|Profession education Institute||316|
|Teachers Educational Institute||209|
Why should you invest in Bangladesh Technology Sector?
- Bangladesh achieves Ba3 (Moody’s) stable rating for 5th consecutive years (2010-14) and BB-(S&P) sovereign rating with stable outlook for four consecutive years (2010-13).
- With one of the largest and fastest growing technology market in the South and South-east Asia, Bangladesh tech sectors offers exciting opportunity for investment in different areas of Infrastructure, citizen services, localized including content and application etc.
- One of the best FDI policy in the region (corporate tax exemption for infrastructure and IT Service business, 100% profit repatriation, investment protection etc)
- Special double taxation treaty for individual from USA
- Stable local currency and macro-economic situation ensuring stable on investment
- Matured capital market for exit on investment
- ITES have been declared by the Government as a High Priority export sector
- ITES companies (BPO, Call Center, Software, etc.) including those having foreign ownerships have been exempted from income tax until 2024
- Special government sponsored long term equity fund and short term working capital financing are offered to IT Companies
- Since 1996, Government has been allowing zero/low tariff for computers and other capital goods required for software industry.
- Special Hi-Tech Parks and Software Technology Parks (STP) are being built by the government at the different cities of the country to facilitate all the infrastructural supports needed by outsourcing companies. Government has imitated Bangladesh Hi- Tech Park Authority to make Hi- Tech Park operational.
- Outsourcing of the Government Departments’ services have been encouraged in the National ICT Policy.
- Outsourcing Guidelines has been formed by Bangladesh Bank for Financial Institutes to outsource their services.
- Over 70,000 It Professionals are working in over 800 software and IT service companies: around 150 of these companies are specialized in serving overseas clients.
- Specialized IT Education in Bangladesh is well established at the graduation and post graduation levels. Over 100 universities and 1400 colleges across the country offer IT education program. Every year, over 8,000 IT graduates come out from these universities and colleges.
- A large part of these IT graduates also possess global IT vendor certificates (e.g) from Microsoft, Cisco, Oracle, Sun) on the top their academic degrees.
- Excellence of IT workforce from Bangladesh is a well – accepted fact at home and abroad. Over 20,000 IT professionals from Bangladesh are working successfully in various IT companies in USA including Microsoft, Intel, IBM, Sun, Oracle, Texas Instruments, Cisco, Nortel and Lucent- to name a few
- Bangladesh Government and IT industry have taken up aggressive plans to scale up the number of IT workforce to meet the increasing demand. The plans to scale up the number of yearly IT graduates to 10,000 and development outsourcing focused skill sets.
- Bangladesh is the ninth largest telecom market in the world.
- 116 million mobile subscribers (till March/14) and 36 million internet subscribers.
- Tele density 78 (approx) and Internet density is 24%
- Bandwidth charges is 100USD/ Mbps/month
- Nationwide full mobile phone coverage
- 2nd submarine cable is launching from 2015
- International incoming call charge is going to be reduced from 3.00cnts/minute
- Communication Satellite is going to launch with the support of USA
- No license is required for call center operation merely registration with BTRC in a very nominal fee.
- The bandwidth cost for Call centre is 40% less .
Call Center & BPO at a Glance
- No of registered call center/BPO companies : 120+
- No of BACCO members : 70
- Approx No. of Human Resource Employed in the industry : 15,000
- Growth of local demand every quarter : 20%