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Triparty MoU Signing among Bangladesh High-Tech Park Authority (BHTPA), Korean EPZ and Startup Bangladesh Limited.

Press Release

Announcement of Korean EPZ IT Zone to Private High-Tech park: Beginning of new opportunities

Triparty MoU Signing among Bangladesh High-Tech Park Authority (BHTPA), Korean EPZ and Startup Bangladesh Limited.

To develop the High-tech industry, startup and innovation ecosystem in Bangladesh, a triparty MoU has been signed among Bangladesh High-Tech Park Authority (BHTPA), Korean EPZ and Startup Bangladesh Limited. This MoU singed today (22 February, Monday) at 12pm at Korean EPZ complex in Anwara, Chattogram. On behalf of BHTPA Hosne Ara Begum ndc, Managing Director (Secretary), from Korean EPZ Kihak Sung, Chairman & CEO and on behalf of Startup Bangladesh Limited, Tina Jabeen CPA, Managing Director & CEO signed the MoU.

Zunaid Ahmed Palak MP, Honorable State Minister of ICT Division was present in the MoU signing ceremony as chief guest. H.E. LEE Jang-keun, Ambassador of Republic of Korea to Bangladesh, and N M Zeaul Alam PAA, Senior Secretary, ICT Division and Chairman of Startup Bangladesh Limited was also present in the ceremony.

Under this joint initiative, all parties agreed to facilitate cooperation focused around efforts to develop infrastructures, increasing foreign investment in Bangladesh, strengthening start-up ecosystem and support entrepreneurs through upskilling through startup camps, design thinking and innovation projects in areas of mutual interests, market access and networking. Through this cooperation, parties envision to collaborate and exchange knowledge, expertise relating to technology and R&D sector for technology innovations, developing collaborative relationship with foreign countries, especially with Korea & USA and conducting joint research activities.

Korean EPZ is the first foreign direct investor in RMG sector staring their journey in 1980 and this is the 41st year of presence in the country. Currently more than 60000 employment have been created by the company. Korean EPZ is also one of the pioneering companies in RMG sector which has introduced female workforce. Chairman Sung is so dedicated and concern about the welfare of his establishment and development progress that he could not but travel to Bangladesh even in this COVID pandemic. To make Korean EPZ a world class Eco-Friendly industrial partners zone Chairman Sung has designed this area emphasizing on environmental developments. These ecological developments have created opportunity for flora and fauna to be enriched in this area. About 137 species of birds have settled among those there are huge flocks of migratory birds.

On the other hand, Startup Bangladesh Limited is a public company limited by shares established by the Government of the People’s Republic of Bangladesh, to invest in pre seed, seed and growth stage startups, which operates as an alternative investment fund with the objective to develop a robust startup and innovation ecosystem in Bangladesh. Under the visionary guidance of Honorable Prime Minister Sheikh Hasina, Startup Bangladesh started its journey on March 2020 with an allocated capital of BDT 500 crores. This effort will enable the nation to innovate faster, create new jobs, develop technical skills, and realize the vision of Digital Bangladesh.

The chief guest at the signing ceremony, Hon’ble State Minister for ICT Division Mr. Zunaid Ahmed Palak MP said, Bangladesh High Tech Park Authority will create digital entrepreneurs by developing an innovation ecosystem in the country to increase investment from private sector. We want our youth to put their mind in to create jobs rather than looking for them. Through this memorandum investment will speed up in Korean EPZ. He also mentioned that Startup Bangladesh Ltd will organize scale up & mentoring programs for startups.

Additionally he said, to stay ahead in the 4th industrial revolution IT business incubators are being established in universities to work on IOT, robotics, cyber security & other modern technologies. As a part of this the work to establish IT business Incubator at CUET is being fast forwarded. Also the work is being accelerated to establish Sheik Kamal IT training & incubation center at Chandgao of Chattogram. When these projects will be implemented the port & business capital Chattogram will grow in to a modern age IT business Hub.

Ms. Hosne Ara Begum, the Managing Director (Secretary) of Banglaldesh Hi – Tech Park Authority told, 5 Hi-Tech Parks in the country is ready for investment. 327 crore taka has been invested in different Hi-Tech parks all over the country from private sector. Alongside this 13,000 employment has been created for youth through this.

Startup Bangladesh Limited’s Managing Director & CEO Ms. Tina Jabeen CPA said, there are more than 2500+ Startups working in Bangladesh that has created employment for more than 1.5 million people. She also added that through the support of digital startups more than 7,50,000 SME’s has been able to expand their business in different sectors and we envision that by the year 2025 startups will be contributing 2% to the country’s GDP.

While expressing his gratitude for announcing IT park zone of Korean EPZ as Private Hi-Tech Park the Managing Director of Korean EPZ said, by announcing Korean EPZ’s IT park zone as Private Hi-Teck Park there will be new opportunities for employment. He also mentioned that , the country’s ICT industry will flourish by the modern day initiatives taken by Government & private sector.

Along with other delegates from mentioned three parties, A.N.M Safiqul Islam (Joint Secretary), Director (Admin & Finance), Bangladesh Hi-Tech Park Authority and Fayez Ahmed, Investment Manager at Startup Bangladesh Limited was present in the MoU signing ceremony.