Today, Bangladesh is considered one of the fastest-growing economies in the world. As per analysts, the South Asian nation is passing through the phase of the demographic dividend that emerged in 2007. Yet, a subsequent increase in the number of the working-age population does not automatically guarantee growth. Rather, it needs investment and commitment to manage its working-age population for productive economic output.
Based on data from the "Labour Force Survey 2016-17" published by Bangladesh Bureau of Statistics in 2018, the country needs to emphasize on a number of areas to ensure better economic productivity. For instance, Prime Minister Sheikh Hasina is now prioritizing on expanding the labour market and creating mass employment through economic reforms. Since most new jobs in the future will be highly skilled, the government is focusing on setting up more training centres and organizing workshops, to increase efficiency and adapt to the Industry revolution 4.0.
Recently, the Prime Minister's Private Industry and Investment Adviser Salman F Rahman advocated for creating skilled manpower in Bangladesh, as otherwise it could be difficult to face the challenges of the 4th Industrial Revolution (4IR). His remark came at the inaugural ceremony of the Start-up World Cup 2020, a global start-up pitch competition with 30+ regional events across the six continent, at a city hotel.
Since the youth should be the focus of development targets, the government has allocated Tk 100 crore in the national budget for the information and start-up sector. On that note, Salman F Rahman remarked on the need of technology skills in the country and stated, "It's time to create skilled manpower in the field of technology from the primary level."
The programme was also graced by Shameem Ahsan, chairman of VCPEAB and e-Generation, who presented the keynote paper titled 'Venture Capital for Double-Digit Growth'. Vision 2025 was inaugurated to create a start-up and venture-friendly ecosystem in Bangladesh.
Alongside such programs, more involvement of universities with "subject related organizations" through internships can help sensitize youth with the skills required for the shifting market dynamics. To sum up, active participation of the youth in the Industry Revolution 4.0 is only guaranteed if there is proper vocational training and workshops in place.
Image Source: https://thefinancialexpress.com.bd/
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