Russia to invest $100m in Bangladesh’s ICT sector

Russia will invest US$100 million for the development of information and communication technology (ICT) sector in Bangladesh.

The Russian government expressed their interest to contribute in the digital growth of the Bangladesh especially in organisational automation and cyber security, Shahid-ul Munir, a Director of Bangladesh Computer Samity (BCS) told the daily sun on Thursday.

BCS Director also said the Russian state-owned technology firm RITE will invest in technology-based social development, smart city as well as in smart finance. He also informed that the fund would be extended if the implementations of the project will success.

Regarding this RITE or Russian Information Technology Export, a wing of state-run corporation Rostec which is dedicated for promoting advanced technology, made an agreement with local tech firm Unicom Bangladesh recently.

Unicom Bangladesh Chief Executive Officer Shahid-ul Munir and RITE Director Technical Alekxei Chugonov signed the agreement on behalf of their respective sides regarding the investment.

The agreement came after a month after the bilateral meeting between State Minister for ICT Zunaid Ahmed Palak and Russian Minister for Communication Nikolai Nikiforov at Moscow in second week of March.

Munir further said that Bangladesh business delegation made recommendation to the Russian government to expend their support for Bangladesh in digitization.

RITE Practice Director Alexei Chugonov said “We are planning to make big investments in the Bangladesh IT sector.

They will work in developing the government IT, different service sectors and bring those under technological support, build smart city, education, insurance and other related IT services.’
He also expressed his hope to stand beside the Bangladeshi young learners with to provide global standard cyber security training as they can contribute at national level.

Alexie said Bangladesh has huge potential in robotic engineering. Russian government is very keen to cooperate with the south Asian nation in advanced technology.

RITE is a wing to promote advance technology of Russia globally has been working at 70 countries globally.