$100 Million Investment in Local Hi-Tech Park from Japanese, Australian, and Bangladeshi Investors

smart-cards

A joint venture supported by Japanese, Australian, and Bangladeshi investors named Bangladesh Cards Ltd., is looking forward to investing $100 million in one of the local hi-tech parks for manufacturing hi-end technology products. This joint venture will cater to the increased domestic and international market demand with smart cards, including bank cards, national identification cards, and driving licenses. Moreover, they will also work to build specialized security items. Besides this, they aspire to be certified to provide e-passports to different governments worldwide.

The company is mapping out the investment tenure that will continue for the next five years. This investment can build the country’s self-sufficiency in producing ICT – products and gradually cut down the import dependency. Initially, this initiative will decelerate the import dependency by 50 percent. After that, local manufacturing can completely take over this sector if dealt with proper supervision and sincerity. Bangladesh targets to export $5 billion in services related to IT by 2025, which currently stands at $1.1 billion. 

A manufacturing hub is designed to be constructed in Bangabandhu Hi-Tech City in Kaliakair, Gazipur. The company intends to establish this manufacturing hub by following the US Green Building Council guidelines. Incorporating this guideline will help the company to attain green building certification.

The objective of this project is intricately connected with the present government’s motive of building a digital Bangladesh. They will manufacture Automated Teller Machines (ATMs) and radio-frequency identification (RFID) clothing tags to meet the local and international demands. This will help cut down the cost and make the country’s ICT sector more independently efficient.

 

Source: The Daily Star

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