Tarique pitches semiconductors as Bangladesh's next growth engine after garments

From garments to chips, Tarique says Bangladesh is ready for its next industrial leap

Prime Minister Tarique Rahman has described the semiconductor industry as Bangladesh's next major economic frontier.

He said on Sunday that it has the potential to become the country's second great export success after the ready-made garments sector.

Speaking at the National Semiconductor Symposium and Biotechnology, Electronics, AI and Robotics Conference at Novo Theatre, he urged government agencies, universities, industry and development partners to work together to build the sector.

He said Bangladesh had overcome numerous challenges to achieve success in agriculture, garments, remittances and digital services, adding that the country's skilled and innovative youth could drive the semiconductor industry to similar heights.

Citing industry estimates that the global semiconductor market is approaching $1 trillion, Tarique said Bangladesh had a “huge opportunity” to enter the fast-growing sector.

The Bangladesh Semiconductor Industry Association has set a target of earning $1 billion in exports by 2030.

“I hope Bangladesh will be able to achieve that goal,” the prime minister said.

He noted that more than 3,000 Bangladeshi semiconductor professionals are working at leading technology companies, research institutions and universities in the United States, Malaysia, South Korea, Japan, Singapore and Europe, calling for greater efforts to involve the diaspora in the country's development.

Tarique said the government now considers semiconductors a national priority.

It has withdrawn all duties on raw materials used by the industry, is introducing cash incentives for semiconductor design service exports, and has allocated Tk 5 billion annually for startup grants.

The premier also announced plans to modernise existing high-tech parks and build a dedicated biotechnology park, saying the government would continue supporting the sector despite challenges such as skills shortages, limited laboratory facilities and investment constraints.

After inaugurating the conference, the prime minister toured exhibition stalls.