More than 5 lac free-lancer entrepreneurs in Bangladesh are working in the online markets and earning around 100 million US dollars a year. In a letter sent to the Ministry of Commerce, the Ministry of Information and Communication Technology is seeking incentive at the rate of 10 percent on the foreign exchange earnings of this potential sector.
Junaid Ahmed Palak, Minister of State in the concerned ministry, sent a semi-official letter to Commerce Minister Tipu Munshi on June 3 stating that cash incentives at the rate of 10 percent have been provided for exports of software, ITES and hardware in 2018 to boost exports in the ICT sector. Later which has been implemented through a circular number-3 issued by the Bangladesh Bank on February, 2018.
The
circular mentions some services or products on the list of export assistance
recipients, which, despite being performed by free-lancers but they don’t
receive this incentive at the individual level. The letter said that if the
income of the free-lancers was considered as a potential export sector and
brought under cash assistance, more foreign exchange would come to the country
through banking channels in a legal way.
Commerce Minister Tipu Munshi said that Prime Minister Sheikh Hasina has recently given instructions on the recognition of freelancers. According to him, the government is working on their benefits. The rationale for incentives on export earnings of free-lancers as a potential sector will also be examined.
ICT officials said that incentive facility is being given at the rate of 2 percent of Bangladeshi expatriate income. As a result, a large number of expatriates are sending foreign currency to the country through banking channels legally, which is contributing positively to economic growth. The corona epidemic has also brought a record amount of expatriate income to the country, which has allowed reserve money to be invested in large projects as well as lending to a neighboring country.
Similarly, ensuring income incentives for freelance workers will further increase foreign exchange reserves, which will help the country's economic development. Concerned parties say that after sending a letter to the finance ministry earlier emphasizing the importance of free-lancing sector, the ministry advised that the approval of the commerce ministry would be required for cash assistance in the export sector.
Then
on June 3, the State Minister for Information and Communication Technology
wrote a letter to the Commerce Minister in this regard. According to ICT
officials, there is a lot of demand for Web Design and Development, App Development,
Smartphone Apps, Graphic Design, Drop Shipping, UI / UX (user interface design),
Article writing, Virtual Assistance etc. Online marketplaces also have a lots
chance to work from home.
Besides, the job demand of Bangladeshi freelancers is increasing day by day as compared to competing countries like India and Sri Lanka. In addition to earning valuable foreign exchange, free-lancing is also playing a role in creating employment in the country through private enterprises. Besides, Prime Minister Sheikh Hasina is giving special importance to this sector as free-lancing can be done at home with the help of a computer or laptop with internet connection without any major investment
On
November 2021, the Prime Minister Sheikh Hasina inaugurated the ID card
issuance program to bring free-lancer entrepreneurs on a platform to recognize
their profession. This ID card will be able to verify the legal validity and
amount of foreign exchange earned by freelancers.
Thanks,
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