Quarterly Economic Update - Bangladesh

Abstract

Given the huge global demand for information technology outsourcing services, Bangladesh is missing out on reaping large profits. The information technology industry of Bangladesh is yet to be well-known internationally and software exports are limited. Although many firms can provide quality services at lower cost, they still lack adequate international exposure. To improve this situation, export promotion should be a major goal of the industry. Carrying out the software development process should not be a difficult task for Bangladeshi companies as long as they can adapt a software process model, which remains the major impediment to getting CMM level-3 certification to enable them to become reputable companies in the global marketplace. Bangladesh must address the bottlenecks to the expansion of ICT as a part of a broad-based reform agenda. This includes addressing illiteracy, infrastructure problems, poorly trained information technology professionals, and weak marketing networks. With constraints removed and firms placed on a sustainable self-development path, the information technology industry can open new doors of opportunity for Bangladesh