Saturday, February 16, 2019 | ePaper

Entrepreneurs for local apps to cut currency outflow

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Economic Reporter :
In the wake of million dollar business by the foreign digital service providers and social networking platforms, local entrepreneurs felt the necessity of homegrown solutions.
They said search engine giant, Google, and most popular social networking site in the country, Facebook, and others using the data of local mobile phone users are doing huge business every year.
Although over four crore people of the country are using this search engine and communication applications, they are reluctant to make any physical presence in Bangladesh.
A local entrepreneur and co-founder of digital service provider Dingi Technologies Ltd, Sazal Kumer Hazra, said if local entrepreneurs come forward and develop products suitable for the Bangladeshi consumers that will help in saving foreign currency.
"Of the four crore digital service users half are using smartphones and it is a huge market," he said in a workshop organized by the Telecom Reporters' Network, Bangladesh (TRNB).
This digital generation is creating a huge volume of data every day which also have enormous economic value, added Hazra.
Companies like Facebook and Google are using this data for their marketing business and earning more than thousand crore of Taka from this market.
"SMS based marketing campaigns have become unsuccessful and their success rate has come down to less than one percent now as people are not willing to read any unnecessary text," reveled Hazra, the chief executive officer of Dingi.
Customers can get more and more flexibility for discounts and offers through digital marketing and campaign that's why digital data is playing an important role for this segment.
Hazra said globally, Bangladesh is the third largest country in terms of users of Facebook, but the social networking giant didn't set up any office here. "That is why the local entities need to come forward and take a role."
With two other shareholders, Hazra has developed a platform where people can get more services than what Google offers. Those include even street view to find exact location of any household of the city, find the upcoming bus and its crowd, and trace the specific train's exact location with some other especial services.

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