Semiconductors could diversify export basket

Exploring the potential of the semiconductor industry in Bangladesh could help start the much-needed diversification of exports from the country, according to Saiful Islam, president of the Metropolitan Chamber of Commerce and Industry (MCCI).

With Bangladesh set to lose preferential trade benefits after graduating from the UN's grouping of least-developed countries in 2026, the nation would do well to move away from its overdependence on garments for export earnings.

Tap here to add The Daily Star as a trusted source

Islam yesterday made these comments at a seminar on "Hi-Tech Opportunities in Bangladesh", jointly organised by the MCCI and veterans of the semiconductor industry from Silicon Valley in the US.

He emphasised the importance of the hi-tech front, where Bangladesh is still in its infancy.

The MCCI is working to develop an ecosystem for setting up the semiconductor industry, he said.

In Bangladesh, one of the fastest growing economies in the world, it is now essential to critically consider diversifying the manufacturing base with high-tech and high-value-added products to capture future potentials of global business, he added.

Semiconductors and other high-tech equipment already are, and always will be highly demanded items for the foreseeable future, said Mashiur Rahman, the prime minister's economic affairs adviser.

He thanked the MCCI for organising the important and timely event and assured that the government will always support any such initiative.

"The present government has always been a business-friendly government."

NM Zeaul Alam, senior secretary of the Information and Communication Technology Division, and Anis A Khan, director of the MCCI, also spoke at the event.