Bangladesh wants to enter space-age soon as the government plans to launch a satellite into the space for the development of the country's telecommunications services.

The Bangladeshi Post and Telecommunications Minister Razi UddinAhmed Raju made the announcement at a press conference Thursday, according to the private news agency UNB.

He said the satellite to be installed in the space will be used only for business purpose.

"The Post and Telecommunications Ministry has already negotiated with some countries like Germany, Russia and China for the launch of the first ever satellite of the country," he said.

"If we get technical supports from those countries, we will be able to launch the satellite into space soon," he added.

He also informed that many foreign investors expressed their willingness to invest in the country's telecommunications sector.