Economy
a year ago

Invest in people to escape middle-income trap

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Creating decent employment, enhancing the skills of young people and increasing female participation in the workforce are vital for Bangladesh to overcome the possible middle-income trap, said discussants at a programme on Wednesday.

They also laid emphasis on ensuring energy security for every citizen by enhancing the country's capacity and strengthening renewable energy exploration.

They also said that achieving short-term development in the country without proper inclusion of marginalised communities will hinder long-term development.

They made these suggestions at a media briefing styled as 'Citizen's agenda aimed at inclusive development and equality: agriculture, employment, unplanned urbanization as well as public services, and affordable energy'.

The event was organised by the Citizen's Platform for SDGs, Bangladesh at Brac Centre in the city's Mohakhali area.

Dr Debapriya Bhattacharya, convener of the Citizens’ Platform for SDGs, Bangladesh, presented the context and significance of the initiative.

Asif Ibrahim, a core group member of the Citizens’ Platform for SDGs, Bangladesh and vice chairman of Newage Group, presided over the occasion and Professor Mustafizur Rahman, another core group member, moderated the discussion.

Dr Bhattacharya said that the Citizens Platform visited countrywide districts in 2022 and held comprehensive discourses with citizens. The views presented in the discussions were accumulated and analysed to identify eleven issues. Later, expert teams worked on those and developed thematic policy briefs as well as recommendations in light of Bangladesh's current socio-economic challenges, people's expectations and upcoming national elections.

The briefing was the second session in the series of discussions, which discussed agriculture, decent employment, energy and urbanisation. The first session discussed education, health, social safety and climate change impact.

"The country must pay special attention to these four issues to become a developed nation and escape the middle-income trap," Dr Bhattacharya said. Dr Bhattacharya also said the frequent discussion regarding the country's development data, which makes statistics of averages, does not clearly signify the state of marginalised people.

He also said that Bangladesh is now on the verge of a democratic recovery phase.

"We have done these works with the hope that a free, fair, competitive and participatory election will take place in the country," he said.

"We hope that these recommendations made on behalf of the marginalised communities of the society will be included in the election manifestos of different political parties."

Mustafizur Rahman said a spirit of bringing equality in policies had been instrumental in preparing the policy briefs.

"We cannot go ahead leaving a large segment behind," he said, adding that policymakers needed to realise this.

He said those who would be lagging behind even after the country became a middle-income one would eventually become an obstacle for the next phase of development goals.

Jinnat Ara, a research fellow at the Bangladesh Institute of Development Studies (BIDS), presented the policy briefs on Transforming Agriculture for an Inclusive and Diversified Economy.

She said that according to the labour force survey, almost 45 per cent of people in Bangladesh are employed in agriculture. "Due to various challenges, the lives of people in the sector are deteriorating day by day."

She said the challenges included the lack of diversity, innovative technology and knowledge, inclusivity, required skill and appropriate public policy.

Tanvir Sobhan, a senior lecturer at the Department of Economics and Social Sciences at BRAC University, presented the policy briefs on Providing Decent Employment for Youth in view of the Domestic and Overseas Market.

He said the national unemployment rate is 3.6 per cent, but the unemployment rate among youth in Bangladesh is 10.2 per cent, which is a matter of concern.

He said that a high proportion of youth are "Not in Employment, Education, or Training (NEET)" and that a considerably high gender gap has emerged, which requires immediate attention and urgent action.

The policy brief identified various challenges, including the large informal sector, limited female participation, skill mismatch and the advent of disruptive technologies.

It suggested implementing regular skills gap assessments, collaborating with industries to identify emerging job requirements and aligning curricula accordingly.

It also highlighted encouraging universities to introduce flexible, industry-relevant courses and establish strong ties with local businesses for internship and job placement programs.

Assistant Professor of Independent University, Bangladesh (IUB) presented a policy brief on Providing Public Utilities and Services in the Backdrop of Unplanned Urbanisation.

Associate Professor of Economics North South University presented the policy briefs on Ensuring Affordable and Clean Energy for All

Terming energy the lifeblood of any economy, he said energy has emerged as a key driver of productivity enhancement, increasing competitive strength and raising the quality of life and well-being of citizens in Bangladesh

He suggested putting emphasis on natural gas exploration, creating a pathway for future energy investment, steps to reduce system loss, promoting local renewable energy equipment manufacturing,

Responding to a query, Mr Asif Ibrahim said industries mostly the apparel sector still face an acute crisis of skilled workers in the mid levels.

Besides, there will be a necessity for skills matching industry needs with the technological advancement in the coming days, he added.

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