IT Services

Bangladesh has designated ICT as a "push sector" because it holds the promise of effective reforms, job creation, industrial expansion, and high spillover effects to other sectors, as well as improved governance and inclusivity. The current World Bank Country Assistance Strategy for Bangladesh acknowledges the importance of information and communication technology in advancing Bangladesh's economic, competitiveness, and governance goals. The Information Technology (IT) Services and IT-Enabled Services industry, valued USD 475 billion, is a lucrative market for which countries compete.

In Bangladesh, there are now around 500 software and ITeS companies registered. Over 12,000 local ICT specialists work for these companies. The overall size of Bangladesh's ICT market, excluding telecom, is estimated to be US$ 300 million, with the software and ITeS businesses accounting for 39% (US$117 million). More than 100 businesses export their goods to more than 30 nations. North America is the most important export market, although many IT companies have recently begun to export to EU countries and East Asian countries, particularly Japan. Among the 100 enterprises that export their goods, at least 30 are formed through a joint venture with an overseas corporation or as an offshore development center (ODC) with 100% foreign financing.