One-stop services for investors at hi-tech parks soon: Palak

One-stop services, a crying need of entrepreneurs, would be available for the investors at the country's high-tech industrial parks, said Posts, Telecommunication and ICT State Minister Zunaid Ahmed Palak.

"Our objective is to facilitate the journey for risk-taking investors," he said while visiting Bangabandhu Hi-Tech City in Kaliakoir of Gazipur on Thursday.

During a meeting with the investors at the hi-tech industrial complex, the state minister said, "We will make sure that investors won't have to hover across offices for different licenses and approvals. Instead, the Bangladesh Hi-Tech Park Authority will serve them to get those."

In cases of failure to serve the investors efficiently, the government would be bold enough to restructure the authority by appointing private sector experts at the top, he added.

Palak has also instructed the relevant authorities to cancel the land allocation agreement for investors who were granted the required hi-tech industrial plots but failed to fulfill their investment obligations.

On the same day, land allocation was cancelled for three firms – Tikkon, Metronet and Datasoft – due to their failure to start their investment procedure according to the agreement.

Meanwhile, Kona Software, Mumanu Polyester Industries and Maa Enterprise got the plots for their tech ventures at the specialised industrial zone that offers concessional rates on top of tax waivers and all integrated facilities.

While visiting around a dozen hi-tech plants already in operations, Palak encouraged investors to be a part of the "Smart Bangladesh" journey as the country eyes high investments in the sector alongside import substitution and higher export earnings.

A total of 82 firms secured their plots at the maiden and largest hi-tech industrial park in the country, and 22 of them are already in commercial operations there, while construction is ongoing for 18 firms.

There is a total commitment of Tk15,000 crore investments by the 82 firms within 2025 that can create 40-50 thousand hi-tech jobs in the park alone.

Hyundai cars, several homegrown laptop and smartphone brands, data centre, international security and surveillance product, and ICT cable manufacturers have already had their plants there.

Palak reiterated his push for all the state-owned entities under his ministry to become efficient so that taxpayers' money is not wasted.

"The government firms which will not become profitable by June, will face hard consequences," he said, adding that they might be privatised or at least have private sector representatives on their boards and top management.