A two-day BPO Summit begins today, July 28, 2016, at Sonargaon Hotel in Dhaka, Bangladesh.

The Information Communication Technology Division in association with Bangladesh Association of Call Centre and Outsourcing (BACCO) are the main organizers of the event that aims to earn $1 billion through the sector wherein 47 local and 20 international analysts are expected to attend.

“Our target is to earn $3 billion from the ICT sector by 2021 and BPO can contribute $1 billion to the earnings,” state minister, Zunaid Ahmed Palak, said.

According to a paper entitled, “BPO Sector in Bangladesh: A favourable place to start”, Bangladesh is a favorable BPO destination because of the following factors

a. Population & Demographic

50% of Population is below 25 years of age. Bangladeshis are known for hard work and commitment even attrition rate is very low as compared to employees of other countries

b. Internet Bandwidth

The internet bandwidth cost in Bangladesh is comparatively very cheap than other countries. It is 50% cheaper as compared to India

c. Support

The government of Bangladesh is taking significant steps in making Bangladesh a favorable destination of business for foreign investors. Policy like exemption of direct taxes in IT sector till 2015 is helping in growth of the country.

d. Cheaper Manpower

The significant pool of young work force is available at a much lower wage as compared to other outsourcing countries. The wage rate in Bangladesh in IT industry is over 50% cheaper than other countries

Presently, according to Palak, the BPO industry already created 30 thousand new jobs in the market which the government plans to increase up to two lahk (200,000 thousand) by 2021.Bangladesh is a rising BPO destination compared to India and the Philippines yet it is a promising one.

India started its journey in the field of BPO 20 years back, he said. “We have just started and we are targeting to reach that milestone.” During the first BPO summit, around 235 people got jobs in the sector, while another 10,000 showed their eagerness to work in the industry, organizers said.

10,000 visitors are expected at the event and they will also offer jobs to 200 graduates. The summit will present success stories and show how this sector can impact the economy. Around 88 outsourcing companies are currently working in the capital while another six companies are running their business from outside the capital, said BACCO leaders.

This is the 2nd Bangladeshi BPO Summit.