December 05, 2011: As per the latest opinions, the outsourcing business has the potential to generate about 200,000 direct and 50,000 indirect jobs in Bangladesh. It will earn a foreign currency of USD 5 billion per year in the in the years to come through the outsourcing business.
The observation was made by international telecom analysts at eAsia 2011, the mega information and communication technology (ICT) event in Asia, organized at Dhaka.
The event featured talks by foreign outsourcing experts, researchers, administrators and local policy makers. The event had invited global investors to select Bangladesh as their destination.
According to Gurujot Singh Khalsa, Chief Executive of US based WorldBridge Global Inc; Bangladesh should look forward to earn USD 8 billion every year within a period of 15 years. He said that this figure is realistic and achievable. Asian countries such as India, Philippines, Sri Lanka and Pakistan, Latin American countries including Brazil, and the African South Africa are doing great deal of outsourcing business with the United States. Even though Bangladesh is there in the outsourcing business, its presence has not been felt.
The CEO announced that WorldBridge will invest USD 150 million in Bangladesh in the next five years, which will create direct outsourcing jobs to about 10,000 and indirect jobs to about 3000 people. This investment is expected to generate USD 100 million in foreign currency every year. He believes that this move will attract more foreign investment to the country.
Svend Olling, Danish Ambassador told that the Information Technology sector, even though small is growing at a rate of 40 per cent for the past five years. He added that his country believes in the huge potential of Information Technology sector in Bangladesh. He suggested that it will be beneficial for the service providers if they could concentrate on one service while engaging with foreign companies and that the government should ensure better and reliable internet connection at lower rates.
Based on the points stressed by the analysts, infrastructure in one important area which requires urgent attention. Other factors that are required to promote the growth of outsourcing industry in Bangladesh are the proficiency in English language and backup international submarine cable.
Faruk Khan, the commerce minister of Bangladesh has announced that the country has exported IT products worth USD 11 million this year, which is a 95 per cent increase compared to the previous year.