Semiconductor sector can be Bangladesh’s next economic powerhouse: PM

Photo : Collected

Prime Minister Tarique Rahman has said the semiconductor sector could emerge as a new promising driver of Bangladesh’s economy after the readymade garment (RMG) industry.

He said the government has already begun implementing comprehensive plans, including creating a business-friendly environment, to turn this potential into reality.

The Prime Minister made the remarks while addressing the inaugural ceremony of the ‘National Semiconductor Symposium and BEAR Summit 2026’ as the chief guest at the Novo Theatre in the capital on Saturday morning. The event aims to develop Bangladesh as a global hub for semiconductor and deep-tech innovation.

Describing the conference as more than just an ordinary event, the Prime Minister said it is a gathering of key stakeholders who can play an important role in building a technology-driven Bangladesh of the future.

He said expatriate Bangladeshis are making their mark through their talent and expertise in different countries around the world, and many of them have participated in the important summit on their own initiative. The government wants to build a Bangladesh that is self-reliant, prosperous and technology-driven, he added.

Referring to semiconductors as one of the foundations of modern civilisation in the era of the Fourth and Fifth Industrial Revolutions, he said chips or semiconductors are essential in almost every modern technology sector, including artificial intelligence, robotics, data centres, renewable energy, medical equipment, mobile phones and space satellites.

Highlighting the huge potential of the global semiconductor market, the Prime Minister said the market is expected to approach US$1 trillion by 2026. He expressed hope that Bangladesh would be able to achieve its targeted export earnings from the sector by 2030, taking advantage of the enormous opportunities available in the global market.

He said the government is treating the semiconductor industry as a national priority sector. However, he noted that the development of the sector cannot be achieved by any single ministry or organisation alone, describing it as a collective national mission.

The Prime Minister called upon the government, universities, research institutions, industry owners, entrepreneurs and expatriate experts to work together towards achieving this goal.

Highlighting government measures to accelerate the growth of the semiconductor sector, he said all taxes and duties on necessary raw materials for the industry have been withdrawn in the current budget. An initiative has also been taken to introduce cash incentives on export earnings from semiconductor design services, he added.

On government initiatives to encourage young entrepreneurs, the Prime Minister said the government has allocated Tk 500 crore annually for the first time as ‘startup grants’ to support new innovations, and the distribution process has already begun.

Assuring investors, he said the government is working to provide duty-free bonded facilities and specialised infrastructure to attract both local and foreign investment. Alongside modernising existing hi-tech parks, the government also plans to build a new biotech park, he added.

Mentioning the intense competition in international markets, the Prime Minister expressed confidence that Bangladesh has a strong determination to move forward despite various limitations.

He said the country would achieve its goals by harnessing its talent, skilled young generation and innovative strength. The government, he assured, would extend all possible support to help entrepreneurs and stakeholders turn their aspirations into reality.

The Prime Minister expressed hope that the conference would create new partnerships, research initiatives and investment opportunities, which would help take Bangladesh’s technology sector to greater heights.

At the end of the ceremony, the Prime Minister formally inaugurated the ‘National Semiconductor Symposium and BEAR Summit 2026’. He later joined a photo session with local and foreign delegates attending the summit.

The two-day summit is being organised under the theme ‘Building Bangladesh’s Semiconductor Future through Global Partnerships’, in partnership with the Semiconductor Industry Association (BSIA), the Ministry of Science and Technology and Silicon River Bangladesh.

Alongside the summit, the ‘BEAR Innovation Expo 2026’ is also being held. A total of 35 stalls are showcasing innovations led by students and startup entrepreneurs in semiconductors, artificial intelligence, robotics, healthcare technology, intelligent systems and other deep-tech sectors.

The Prime Minister visited the various stalls at the expo.