Mega project for digital economy
The government is undertaking a mega project worth Tk 2,541 crore to create an enabling environment for the digital economy as it gears up for the Fourth Industrial Revolution.
By narrowing down the gap between the physical, digital and biological spheres, the Fourth Industrial Revolution, or Industry 4.0, will be dominated by technological advancements that include intelligent automation, machine learning, the Internet of Things, smart machines, nanotechnology and biotechnology.
Under this project, called Enhancing Digital Government and Economy, the objective is to establish a cloud-based infrastructure and software platform for participants in the development and expansion of the digital economy in Bangladesh.
The initiative will help increase investment efficiency and sustainability in the IT sector.
The project also aims to develop skilled manpower in the IT industry so that skilled manpower and employment opportunities are created through the formulation of strategies and action plans for Industry 4.0.
Of the amount, Tk 2,507 crore will come from World Bank as loans.
Bangladesh Computer Council under the ICT ministry will begin implementing the project from the beginning of next year and run it till the end of 2026.
ICT equipment, software, consultation services and vehicles will be purchased as a part of the initiative.
The project will be placed before the Executive Committee of the National Economic Council (Ecnec) today for approval. A massive training programme and research initiatives will then be undertaken across the country for the advancement of the digital economy.
The project also seeks to face the challenges of the Covid-19 fallout, which triggered crises in business, supply chain management and education.
However, Bangladesh swiftly adopted e-learning, online education, telemedicine, and work from home measures amidst the pandemic to offset some of the economic shocks.
Now with this project, the government wants to use ICT for good governance and service delivery, and ensure Bangladesh's equitable and adequate participation in global ICT trade.
The Planning Commission said the project would play an important role in creating a conducive environment for the local digital economy by achieving economic growth through the enhancement of digital capabilities, and creating employment opportunities through research, training and innovation.
The digital economy refers to a broad range of economic activities that use digitalised information and knowledge as key factors of production, according to Asian Development Bank.
The internet, cloud computing, big data, fintech, and other new digital technologies are used to collect, store, analyse, and share information digitally, transforming social interactions in the process.
Bangladesh has already made strides toward digitisation through Bangladesh National Portal, national identity verification system, e-GP platform, and biometric SIM registration system.
Various projects worth about Tk 9,000 are currently being implemented under the ICT division. The projects include Learning and Earning Development and "Connected Bangladesh", under which information technology networks will be established in remote areas.
Setting up a secure e-mail and digital literacy centre for the government, the Sheikh Kamal IT Training and Incubation Center, and Aspire to Innovate are among these projects as well.
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