Commerce Minister Khandakar Abdul Muktadir today urged Lithuanian technology companies to explore investment and business opportunities in Bangladesh's rapidly expanding information and communication technology (ICT), fintech, and other technology-driven sectors. He made the call during a meeting with Lithuanian non-resident Ambassador to Bangladesh Diana Mickeviciene at the Ministry of Commerce. Commerce Secretary Md Ataur Rahman Khan was present at the meeting. Muktadir highlighted Bangladesh's growing ICT sector, skilled workforce, and strong pool of freelancers as resources Lithuanian companies could utilize to expand operations and access the South Asian market. He assured that necessary facilities have been ensured for repatriation of investment and profits, and that Bangladesh provides a stable and investment-friendly environment. The two sides discussed ways to strengthen bilateral trade, investment cooperation, and partnerships in technology-oriented sectors. Ambassador Mickeviciene expressed Lithuania's interest in sharing expertise in laser technology, GovTech, and fintech services to support Bangladesh's digital transformation. She emphasized the importance of building effective public-private partnerships between the two countries.
Background on Bangladesh's ICT and fintech sectors
Bangladesh's ICT sector has been growing rapidly in recent years, driven by a young and skilled workforce, a large pool of freelancers, and government initiatives to promote digital literacy and infrastructure. The sector contributes significantly to the country's GDP and provides employment opportunities for thousands of people. The fintech sector is also expanding, with increasing adoption of mobile financial services and digital payments. The government has launched various initiatives to promote innovation and entrepreneurship in these sectors, including setting up technology parks, incubators, and accelerators.
Lithuania's strengths in technology
Lithuania is known for its strengths in laser technology, GovTech (government technology solutions), and fintech services. The country has a thriving startup ecosystem and is home to several successful tech companies. Lithuania has been actively promoting itself as a technology hub in Europe, attracting investment and talent from around the world. The country's government has been supportive of the tech sector, providing funding, incentives, and a favorable regulatory environment.
Potential for bilateral cooperation
There is significant potential for cooperation between Bangladesh and Lithuania in the technology sector. Bangladeshi companies could benefit from Lithuania's expertise in laser technology, GovTech solutions, and fintech services. Lithuanian companies, on the other hand, could leverage Bangladesh's large market, skilled workforce, and growing digital infrastructure to expand their operations in South Asia. Effective public-private partnerships and joint initiatives could create new opportunities for innovation, investment, and trade between the two countries.
