DEVELOPMENT OF HI-TECH PARKS IN BANGLADESH: PROSPECTS AND CHALLENGES

Abstract

Comprehensive and Co-ordinated efforts developing adequate infrastructure, for
participation of area international and local IT Companies, a prerequisite for the
development of Hi-Tech Parks in Bangladesh, which will help materialize the
Vision of Digital Bangladesh by 2021. The study considered the present status
of Hi-Tech Parks in Bangladesh, the regional and global scenario of IT, trends of
IT export, and the private STP and PPP involvement in this promising sector of
Bangladesh economy. Bangladesh’s current ranking in the Knowledge Economy
Index is very low. Improvement in Education, particularly at the secondary and
tertiary levels, is a prerequisite for developing a Knowledge Economy. Distance
and remote location of the project, lack of skilled manpower, and unwillingness
of PPP partners are the main challenges for development of conducive business
environment in this sector. Government has already started training manpower
as human resource and has taken initiatives for upgrading curricula to meet the
need of the industry. Development of Hi-Tech Parks is challenging, but has vast
prospects. To materialize the challenges, government should consider the PPP as
development partners, and without any bias select the Hi-Tech Parks development
partners, both local and foreign companies having experience. Primary initiative
should be taken by the Government to establish the most promising ones of the
parks, and to patronize the private STP and the local and multinational companies
so that they can develop on their own. First of all, sample business plans for typical
software/hardware/ biotech firm, in different Hi-Tech Parks business areas, are
to be prepared. A specific hypothesis for this study is that the development of
Hi-Tech Parks will increase employment opportunity, family income and enhance
the GDP growth. The economy will thereby substantially be benefitted.