Nine local and foreign companies were allotted land at the Bangabandhu Hi-Tech City in Gazipur yesterday to manufacture hi-tech products.

The firms will collectively invest about $150 million and create 25,000 jobs. Bangladesh Hi-Tech Park Authority (BHTPA) handed over the 21 acres of land to the firms for 40 years at a ceremony at the Bangabandhu International Conference Centre in Dhaka.

Telecom and ICT Minister Mustafa Jabbar gave away the allocation documents to the companies and asked them to start investing as early as possible.

Of the firms, Nazdaq Technologies Inc. Ltd, a local software developer mainly making banking software, has received two acres of land. It plans to invest $61.7 million and create 3,600 jobs.

Six local banks now use software of Nazdaq Technologies, which has also exported banking software to the US, the UK and South Africa, said a director of the company.

Intercloud Ltd, another local firm offering modern telephony solutions, has proposed to invest $21.71 million in its project to be located over 3 acres of land. It will employ 770 people.

Samsung's local manufacturing partner Fair Electronics Ltd will assemble laptops and some other communication devices in its plant to be built on 3.5 acres of land. It will invest $10 million and create 250 jobs.

Fair Electronics has started assembling mobile handsets, refrigerators, microwave ovens and air-conditioners in its plant in Narsingdi.

Genex Infosys, the country's largest business process outsourcing firm, and three other software makers BJIT Ltd, JR Enterprise and KDS Group will invest $10 million each and together create more than 9,000 jobs.

Genex plans to set up a call centre and a content development centre in its plant to mainly run its overseas business, said Prince Mojumder, co-founder and chief executive officer of the company.

Robi Axiata, the second largest mobile phone operator in Bangladesh, plans to invest $2.6 million in its plant with a target to innovate various kinds of Internet of Things and artificial intelligence products. It will employ 110 people.

Companies will have to pay $2 per square metre in annual fees. If they develop or manufacture products and services for export markets, they will receive additional tax benefits.

The allotment of the land is part of the government initiative to earn $5 billion from ICT exports every year and generate 20 lakh jobs in the sector by 2021.

State Minister for ICT Zunaid Ahmed Palak, ICT Secretary Zuena Aziz and BHTPA Managing Director Hosne Ara Begum were also present at the event.