Interview with Labaid Group DMD Sakif Shamim
Bangladesh’s economic growth over the last decade has been driven largely by its young population, with digital entrepreneurship at the forefront, said Sakif Shamim, Managing Director of Labaid Cancer Hospital & Super Speciality Centre.
In an interview with TIMES of Bangladesh, Shamim emphasized the role of youth in reshaping the economy. “Instead of relying on traditional jobs, young people are creating new financial ecosystems through freelancing, e-commerce, outsourcing, and startups,” he said. These platforms have proven essential in helping Bangladesh navigate global challenges like the COVID-19 pandemic.
According to the Bangladesh Association of Software and Information Services (BASIS), the IT and IT-enabled services (ITES) sector generates around $1.4 billion annually, largely driven by young freelancers. “Our target is to increase this to $5 billion this year. The youth are leading this growth,” Shamim added. Bangladesh now ranks as the second-largest freelancing hub globally, with thousands of young professionals earning foreign currency on platforms like Upwork.
The e-commerce sector has similarly thrived under young leadership. “With over 25,000 e-commerce sites and F-commerce pages, young entrepreneurs kept businesses running when traditional markets struggled,” Shamim said.
Shamim also pointed to the role of infrastructure in supporting digital growth, with 39 high-tech parks established across the country. “These parks offer critical infrastructure, but challenges like power instability remain. Renewable energy solutions could make them more sustainable,” he noted.
To sustain growth, Shamim called for government support, particularly through reduced import duties on IT products and tax exemptions for foreign investors.
He also stressed the need for skill development, urging the integration of coding, AI, and cybersecurity into the education system to better equip youth for the digital future.
Finally, Shamim highlighted the need for policies that support young entrepreneurs, including access to loans and venture capital, along with stronger intellectual property protections.
“With the right policies and support, Bangladesh’s youth will continue to drive the digital economy, positioning the country as a global player,” he concluded.
