Bangladesh should critically consider diversifying the manufacturing base with high-tech, high-value-added production to capture the future potentials of global businesses, said participants at a seminar.
Exploring the semiconductor industry could be the start of the diversification of products that Bangladesh needs, they said at the virtual seminar titled Hi Tech Opportunities in Bangladesh on 1 December.
Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI) and the veterans of the Semiconductor Industry from Silicon Valley, California, USA organised the seminar.
Participants said the MCCI has been seriously working to develop an ecosystem for setting up the semiconductor industry in Bangladesh as the country is one of the fastest growing economies in the world with rapid business expansion and development.
They discussed issues including exploring the existing and potential knowledge sources on the semiconductor industry and overcoming the challenges for developing an ecosystem.
Knowing the best practices of the successful countries to adopt them for Bangladesh and the best possible involvement of Bangladeshi diaspora in this regard was also discussed.
MCCI President Md Saiful Islam said, "With LDC-graduation and loss of preferential tariffs in its export markets imminent, Bangladesh would do well to move away from its overdependence on readymade garments (RMG) in the export basket."
He hoped that this seminar can be the start of the knowledge and guidance that is required for success in diversifying the export basket especially with exploring the semiconductor industry.
Dr Mashiur Rahman, economic affairs adviser to the prime minister attended as the chief guest at the seminar.
He said, "The present government has always been a business-friendly government and will continue to do so. Semiconductors and high-tech already are and will remain highly demanded items in the foreseeable future."
NM Zeaul Alam PAA, senior secretary, Information and Communication Technology Division, Habibullah N Karim, vice-president, MCCI acted as the moderator, and Farooq Ahmed, secretary general & CEO, MCCI was the facilitator at the event.
Dr Arif Dowla, convener, committee on semiconductor, MCCI, Mohammed E Rahman, CEO & president, ULKASEMI, MA Jabbar, managing director, DBL Group, Dr Yusuf Haque, chief technology officer and co-founder, Exo Imaging, Dr Khandker Nazrul Quader, chief technical officer and EVP, Sunrise Memory were panel discussants at the seminar among many others.