Business and Capital Alliance with BJIT Group, a Bangladesh IT Services Company

Apr. 27, 2023
Marubeni Corporation

Marubeni Corporation (hereinafter, “Marubeni”) will form a business and capital alliance with BJIT Group (hereinafter, “the Alliance”)*1, which is based in the People’s Republic of Bangladesh (hereinafter, “Bangladesh”) and provides IT services for Japan, Europe, US, and ASEAN markets, and will enter the offshore DX service*2 business as a next generation social infrastructure. The Alliance was announced at an MOU exchange ceremony held during the “Bangladesh Trade and Investment Summit” in Tokyo on April 27.

Demand for IT services such as software development are increasing as DX (Digital Transformation) accelerates on a global scale, contributing to social and corporate transformation, productivity improvement, and operational efficiency enhancement. The offshore software development*3 market is growing at an annual rate of 15%, with the global market size estimated to reach about 112 billion USD in 2028 from 36 billion USD in 2020*4. However, there is a shortage of the IT engineers who are driving DX due to the diversification and complexity of technologies.

The Government of the People’s Republic of Bangladesh has an IT policy, “Smart Bangladesh Vision 2041,” and is promoting support for the IT industry and human resource development with the goals of making it the country's second major industry following the textile industry and of expanding IT exports, which stood at 1.4 billion USD in 2019, to 5 billion USD by 2025 and 20 billion USD by 2031. More than 100 universities and 1,400 colleges across Bangladesh offer IT education programs, and the number of IT graduates per year has increased from approximately 5,000 in 2012 to 20,000 in 2019. The IT workforce is currently estimated at 2 million and is forecasted to reach 3 million by 2025, and many talented IT engineers with high English proficiency and IT skills are expected to be produced in the future.

BJIT Group currently has over 700 IT engineers based in Bangladesh and has been supporting clients’ DX promotion for over 20 years by providing high-quality IT services in a wide range of technical areas, including development, testing, maintenance, and operation of web and mobile applications and ERP systems to clients, including major corporations. BJIT has also expanded its service areas to cutting-edge technologies including AI, IoT, blockchain, and more by operating its own IT training and development institute and strengthening its technical capabilities.

Marubeni will accelerate BJIT Group’s global expansion and service function expansion by leveraging its global network, marketing, and business promotion capabilities, and supporting BJIT group to make a leap forward in becoming a global IT company in the capacity of a strategic partner. Through the Alliance, Marubeni will contribute to the DX of society and of companies and support the realization of social and corporate transformation by utilizing digital technologies.

*1 Invest in BJIT Ltd., the core company of the BJIT Group, and in BJIT Global Pte. Ltd., established in Singapore to manage and control overseas sales operations.
*2 Provide solutions to meet the DX needs driven by industry and society through the provision of excellent and abundant offshore IT resources (from overseas).
*3 Businesses that develop software, applications, and provide other IT services for overseas companies, as well as system operation and maintenance.
*4 Source: Cognitive Market Research

BJIT Ltd Head Office(Dhaka, Bangladesh) BJIT Ltd Head Office(Dhaka, Bangladesh)

MOU Exchange Ceremony held in the presence of Prime Minister Sheikh Hasina at the “Bangladesh Trade and Investment Summit” MOU Exchange Ceremony held in the presence of Prime Minister Sheikh Hasina at the “Bangladesh Trade and Investment Summit”

BJIT Ltd. Overview
Head Office: H-2275, 2279, Panchkhula, Satarkul, Badda, Dhaka-1212, Bangladesh
Established: 2001
Chairman and CEO: Akbar JM
Shareholder: Akbar JM, etc.
Business description: IT services business including software development, maintenance and operation, and onsite engineer staffing
Website: https://bjitgroup.com/