Investment & Trade
Sector Profile: IT & IT-Enabled Services
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Executive Summary
The IT and IT-Enabled Services (IT-ITES) sector is the fastest-growing non-traditional export sector, contributing USD 1.4B in FY2023-24 (up from USD 0.4B in FY2018-19, a 250% growth in 5 years). The sector comprises 2,500+ registered IT companies and 500,000+ IT professionals. Major sub-segments: software development (USD 580M), IT-enabled services / BPO (USD 470M), freelance outsourcing (USD 350M, 2nd largest freelancer population globally after India). Bangladesh is the world's 2nd largest supplier of online labour (Oxford Internet Institute Online Labour Index). The government has established 39 hi-tech parks across the country (Kaliakair, Jessore, Sylhet, etc.) providing infrastructure and tax holidays until 2027. Cash incentive: 10% on software export, 10% on IT-ITES. Key challenges: data protection regulation, payment gateway constraints (Stripe/PayPal not officially available), and skill gap in emerging technologies (AI/ML, blockchain). The Liakat Ali Khan ICT Act 2013 governs the sector.
Key Points
- Export value FY2023-24: USD 1.4B (up 250% from FY2018-19)
- 2,500+ IT companies, 500,000+ IT professionals
- World's 2nd largest online labour supplier (after India)
- Software: USD 580M | BPO: USD 470M | Freelance: USD 350M
- 39 hi-tech parks nationwide
- Tax holiday for IT sector: until 2027
- Cash incentive: 10% on software/IT-ITES export
- Key challenges: payment gateways, data protection, skill gap
- Governing statute: ICT Act 2013 (amended 2018)
- ICT Division under Ministry of Posts, Telecommunications and IT
Full Details
Investment profile for the IT sector. 650K+ freelancers, .1B market by 2025, and growing global connectivity.