Entrepreneurs demand industry-friendly regulations for digital platforms

Digital, social media and OTT platform entrepreneurs and experts demanded industry-friendly regulation so that this new media can harness the potential of the new avenue of economic opportunities.

They made this demand at a seminar styled "Regulation of Digital, Social Media & OTT Platforms: The need to strike the right balance" organised by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) at its office in Dhaka today.

They said digital platforms come with new opportunities of creative production, employment, showcasing the country's culture globally.

Hence, the regulation should not be regulatory rather it should facilitate the growth of the industry.

They also fear the two different regulations prepared by the information ministry and the Bangladesh Telecommunication Regulatory Commission might contradict each other during their implementation.

However, responding to the concerns, Mustafa Jabbar, telecom minister, said the two ministries have different areas of supervision.

Therefore, there is no scope of conflict in future, he assured.

The minister announced that the home network of 5G will launch in January.

Md Mokbul Hossain, secretary of the information ministry, said two different ministries prepared different guidelines on the same issue by the direction of the court.

FBCCI President Md Jashim Uddin urged the policymakers not to hinder the growth of the new potential sectors.

FBCCI Director Syed Almas Kabir said the current global OTT Platform market size is of $178 billion, which will reach $275 billion by 2027.

Therefore, to strengthen Bangladesh's position in this market, the regulation must facilitate the local companies.