# Bangladesh Targets Transition from Labor-Intensive to Innovation-Driven Economy

*The government is committed to transforming Bangladesh into a knowledge and innovation-driven economy by developing high-tech sectors.*

July 26, 2026 · Economy

Science and Technology Minister Faqir Mahbub Anam announced today that the government is actively working to transition Bangladesh from a labor-driven economy to a knowledge and innovation-driven one. He emphasized the development of high-tech sectors such as artificial intelligence (AI), advanced chip design, and bioelectronics to achieve this goal.

## Government Support for High-Tech Sectors

Faqir Mahbub, who is also the Posts, Telecommunications and Information Technology minister, made these remarks while addressing the 'Bangladesh Deep-Tech Future' discussion on the second day of the National Semiconductor Symposium and BEAR Summit 2026 at the Novo Theatre in Tejgaon. He assured continued government support for the semiconductor and deep-tech sectors, highlighting the potential of Bangladesh's youth to lead these industries with innovation, research, and policy backing.

## Global Collaboration and Business-Friendly Environment

The minister called for the importance of the 'Made in Bangladesh' brand in the innovation and export of technology products and services. He noted that the BEAR Summit demonstrated global collaboration, with leading technology companies, universities, industry leaders, expatriate Bangladeshis, and experts joining the country's efforts. Faqir Mahbub assured business leaders of the government's business-friendly stance, promising to create opportunities and accelerate technological advancement.

## Sources

- BSS

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Source: https://pulsetoday.com.bd/en/economy/bangladesh-innovation-driven-economy