TechLife Report

Entrepreneurs in the Bangladesh technology sector urged the government to extend tax exemption up to three more years to drive growth in the country’s economy.

The call came amid fears of withdrawal of the facility in prescription of the International Monetary Fund (IMF).

“After a three-year tax exemption period, an annual tax rate of 1-2% can be introduced. The contribution of technology to GDP (gross domestic product) is only 1.09% which can be increased through policy support,” Shameem Ahsan, president at Venture Capital and Private Equity Association of Bangladesh (VCPEAB), told a seminar on Sunday.

The investors’ forum organised the policy dialogue on “investment climate for Smart Bangladesh” at Sheraton Dhaka in the capital city.

In the keynote speech, Shameem Ahsan showed that technology contributes 7.4% to GDP in India while 3.40% in Philippines, 4.23% in Indonesia and 7% in Estonia.

Prime Minister’s Private Industries and Investment Adviser Salman F Rahman was present as the chief guest.

State Minister for Post, Telecommunications and Information Technology Zunaid Ahmed Palak, lawmakers Kazi Nabil Ahmed, Ferdous Ahmed and Zara Jabeen Mahbub also attended the event as guests of honour.

In his speech, Salman F Rahman expressed his surprise at the lack of courses on emerging technologies in public and private universities.

“We have no idea about the progress of ChatGTP backed by machine learning and AI (artificial intelligence),” he said.