India-Bangladesh Foster Digital Partnership with Launch of Knowledge Park in Chattogram
Digital connectivity is rapidly emerging as a crucial aspect of the partnership between India and Bangladesh, extending beyond trade, transport, and energy connections. Indian High Commissioner of Bangladesh, Pranay Verma, emphasized this during the joint foundation stone-laying ceremony of the Knowledge Park in Chattogram. The park is being constructed with the assistance of Indian government’s concessional Line of Credit.
Verma expressed his hopes that the Knowledge Park would propel economic and technological collaboration between the two countries to unprecedented heights. He highlighted the significance of the project in enhancing India-Bangladesh cooperation in the information and communication technology (ICT) sector. Verma mentioned the recently launched India-Bangladesh Startup Bridge, aimed at connecting the startup communities of both nations, as well as proposals to establish links between their digital payment systems.
As part of the project to establish IT/Hi-Tech Parks in 12 districts of Bangladesh, funded by the Government of India‘s concessional Line of Credit worth nearly US$ 250 million, the IT Park in Chattogram plays a vital role. This initiative aligns with Bangladesh’s vision to transform into a Digital Bangladesh and a Smart Bangladesh by 2041.
High Commissioner Verma expressed confidence that these IT parks would significantly contribute to the growth of the IT industry and IT-enabled services in Bangladesh. They are expected to establish standards, create hubs and incubation centers, foster entrepreneurship, and build capacity in emerging technologies such as the Internet of Things, machine learning, robotics, artificial intelligence, extended reality, and other advanced subjects.
Furthermore, the IT Parks will nurture a technologically-skilled workforce, crucial for the rapid growth and development of both economies in the 21st century. With each park estimated to generate direct employment for 3,000 individuals and train over 1,000 people annually, the direct and indirect benefits of the project will be transformative. Additionally, the construction of green buildings within the parks will promote energy efficiency and environmental friendliness.
This collaborative effort between India and Bangladesh in establishing the IT Parks reflects the commitment to foster digital connectivity and advance technological capabilities. It provides opportunities for both countries to boost their IT sectors, create employment, and capitalize on emerging technologies. The Knowledge Park in Chattogram is poised to become a significant hub for innovation, entrepreneurship, and technological advancements, fostering a mutually beneficial partnership between India and Bangladesh.
