Despite much discussion in recent years, there are many understandings of information economy. No dominant analytical framework has emerged on how to participate in this economy. To secure full benefits of the information economy a country needs to formulate appropriate strategies and plans based upon the analysis of currently available information, data and statistics. For a developing country like Bangladesh responding to this challenge requires awareness, time, financial resource allocation and political commitment to codify and execute necessary rules, laws and policies. At the same time Bangladesh must guard against the idea that information economy and information and communication technologies (ICTs) are the panacea to all of country's development problems.