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Facebook-based entrepreneurs surge to 50,000 in Bangladesh amidst pandemic

In Bangladesh, there are currently 2,000 web-based enterprises and 50,000 Facebook-based entrepreneurs.

In Bangladesh, there are currently 2,000 web-based enterprises and 50,000 Facebook-based entrepreneurs. Digital platforms have boosted the number of online-based business options, particularly during the present healthcare epidemic.

According to a survey conducted by the Center for Policy Dialogue (CPD), these digital platforms are likely to generate over five lakh jobs in the coming year. The survey results were presented in a virtual dialogue titled “Digital Platform Economy” on Monday. The Center for Policy Dialogue and the Friedrich-Ebert-Stiftung (FES), Bangladesh Office collaborated on the event.

Syed Yusuf Sadat, Senior Research Fellow, CPD, delivered the keynote address. Bangladesh now holds 16 percent of the global online labour market and is the world’s second-largest supplier of online labour, according to him.

According to the report, despite the fact that a large number of mobile applications are entering the market as a result of the widespread internet and the popularity of smartphones, no effective regulation for those apps has yet been established. In addition, many digital platforms must adapt their strategic approach and ensure the quality of customer service in order to get approval.

The Center for Policy Dialogue published several recommendations as part of a strategy to promote the digital platform-based economy, asking businesses to focus on product quality, fast service delivery, efficient inventory management for e-commerce, a flexible return policy, and overall openness.

Bangladesh’s transition to a digital platform-based economy would be accelerated, according to the research tank.

CPD’s Executive Director Dr Fahmida Khatun and FES Bangladesh Resident Representative Felix Kolbitz delivered introductory addresses in the debate, emphasising the growing importance of digital platforms on the country’s current economic success and the numerous problems involved.

Professor Mostafizur Rahman, a CPD Fellow, presided over the discussion. In the backdrop of LDC graduation, he emphasised the necessity of the digital platform economy in moving the country’s economy ahead. “That is why, in order to meet the numerous issues that arise, we must work together,” he stated.

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