[December 20, 2009] Roundup: Bangladesh's software industry records robust export growth amid global recession Tweet DHAKA, Dec 20, 2009 (Xinhua via COMTEX) -- By Naim-Ul-Karim Bangladesh's software industry marked an impressive 33 percent growth in export in the last fiscal year (2008-09) that ended in June this year, as many western and European firms shifted focus on the South Asian country for low-cost IT services, sector insiders said Sunday. They said a healthy chunk of 32.91 million U.S. dollars export earnings of the industry in the last fiscal year (July 2008- June 2009) came from computer software developmental services. President of Bangladesh Association of Software & Information Services (BASIS), Habibullah N Karim, told reporters at a press conference Sunday that the country has already become a large ground of potential human resources with bright aptitude, quality and natural ability in software development. The BASIS, national trade association of software & IT services companies of Bangladesh, organized the press conference to announce its annual event, "Soft Expo", which aims at bringing together multinational and local software vendors and information communication technology companies. The 5-day exposition of the BASIS, which is to begin from Feb. 10 next year, will feature an IT job fair, seminars and match making sessions between local and foreign companies' delegations. BASIS director MA Mubin Khan, who also spoke on the press conference, said the theme for the BASIS Soft Expo 2010, the eighth of its kind, is "Digital Bangladesh in Action". The organizers expect that about half a million visitors and over 200 exhibitors from home and abroad to throng the exposition. They said the country's software export has achieved hefty growth, as more than 400 software and IT companies are exporting their services to around 30 countries in the world, which includes the U.K., the U.S.A, Denmark and Japan. According to the BASIS, Bangladesh's Ministry of Commerce has set an export target of 38 million U.S. dollars for the current fiscal year 2009-10 (July 2009-June 2010). "Bangladesh's software industry will become a 500 million U.S. dollars export earning sector by 2013-2014 fiscal year (July 2013- June 2014) if the current trend of robust growth continues," the BASIS president Karim had earlier told Xinhua. He said Bangladesh's approximately 20 billion taka (about 285. 71 million U.S. dollars) software industry currently employs nearly 20,000 skilled and semi-skilled professionals. Following global companies' interest about Bangladesh's software industry, the sector insiders said many local and foreign IT firms are investing for developing high-quality software taking advantage of low-cost work force here. But they said poor investment is still hindering the desired growth of the sector, which is the second largest avenue of graduate employment in the country. "We'll welcome more foreign investment in the sector," the BASIS president said. Among the hundreds of export-focused companies, according to BASIS, at least 30 companies have been set up either as joint venture or as ODC (Offshore Development Center) with hundred percent foreign investment in the country in recent years. [ Back To TMCnet.com's Homepage ]