IT must be front and centre for Smart Bangladesh

With Bangladesh on the cusp of achieving middle-income status as an economy, and with its short-term and long-term goals of fulfilling the Sustainable Development Goals by 2030 and of course, beating the middle-income trap and becoming an innovative, smart Bangladesh by 2041, it is clear that what got Bangladesh to this stage will not be sufficient to take us to where we want to be.

In particular, with the advent of the Fourth Industrial Revolution, and technological advancements such as Artificial Intelligence (AI) and the Internet of Things (IoT) progressing at an exponential pace, if we fail to keep up with the world when it comes to informational technology (IT) we run the risk of being left behind.

To that end, however, it is encouraging to see the progress Bangladesh is making with respect to IT and is fast becoming a global player in the industry; according to the latest Global Location Service Index, the country's IT outsourcing ranking stands at 21, while it is also the second largest producer of IT freelancers in the world.

While the industry earns a little over 1% of total GDP for the country currently, there is no reason to doubt Bangladesh Association of Software and Information Services (BASIS) President Russel T Ahmed when he says: “This industry has the potential to generate the highest export earnings among all sectors.”

Indeed, what is important for us now is to leave no stone unturned to ensure that we reap the full benefits of this industry, and have the right policies and incentives in place for the industry to continue to grow in leaps and bounds. We have done a stellar job until now with our economy, but it is time for us to prioritize IT as the next big export sector for the country.—Dhaka Tribune