Dhaka, May 16 (UNB)- The government has set a target to develop a semiconductor sector worth $10 billion by 2041.
 
This was informed at a workshop, organised by Bangladesh Investment Development Authority (BIDA), in partnership with Ernst  and  Young LLP, on the Semiconductor Ecosystem in Bangladesh.
 
Currently, Bangladesh earns around $5 million annually from the semiconductor industry, mostly by providing integrated circuit (IC) chip design services, while fabrication, packaging, assembly, and testing remain untapped.
 
Adviser to the Prime Minister on Private Industry and Investment, Salman Fazlur Rahman, addressed the workshop as chief guest while BIDA Executive Chairman (Senior Secretary) Lokman Hossain Miah chaired the event at BIDA Conference Room.
 
The workshop's keynote presentation was delivered by Abhishek Gupta, Partner, Ernst  and  Young LLP, highlighting the semiconductor value chain and potential focus areas for Bangladesh.
 
"The potential of the semiconductor industry in Bangladesh is immense for which the government's support combined with private sector initiatives and academic contributions will be crucial," said Salman Fazlur Rahman.
 
"This industry can meet domestic needs and enhance our export capabilities. So, let us work together to harness the power of semiconductors and build Smart Bangladesh as envisioned by the Prime Minister," he added.
 
BIDA Executive Chairman Lokman Hossain Miah said that a lifeline for all electronic devices and systems, the applications of semiconductor technology are limitless.
 
Bangladesh has a competitive advantage due to its proximity to the Asia-pacific supply chain, focus on industry diversification, infrastructure and incentives support along with a huge talent pool of young professionals in STEM fields," he added.
 
Expert recommendations were collected through group technical sessions participated by stakeholders from government, private sector and development agencies covering the sector's potential, competitive advantages, opportunities beyond manufacturing and necessary policy support.
 
It was noted in the workshop that a draft action agenda will be prepared based on the suggestions received during the workshop towards preparing comprehensive investment planning in the sector.
 
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