Bangladesh Tertiary Education Sector Review : Skills and Innovation for Growth
Bangladesh is recognized globally for its remarkable track record of socioeconomic development and potential for becoming an economic powerhouse in the region. The economy has sustained impressive economic growth over the past three decades despite...
| Main Authors: | , , , , , |
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| Format: | Report |
| Language: | English |
| Published: |
World Bank, Washington, DC
2019
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/303961553747212653/Bangladesh-Tertiary-Education-Sector-Review-Skills-and-Innovation-for-Growth http://hdl.handle.net/10986/31526 |
| Summary: | Bangladesh is recognized globally for
its remarkable track record of socioeconomic development and
potential for becoming an economic powerhouse in the region.
The economy has sustained impressive economic growth over
the past three decades despite incidences of political
conflict, natural calamities, and financial shocks. The
country met the Millennium Development Goals ahead of time
and reduced the poverty level substantially over the past
decades. Progress in human development, education, and
health has been equally impressive and produced a healthier
and better-educated working population. More women are
joining the workforce while gender gaps in pay are gradually
narrowing. Moving forward, the country aspires to reach the
stage of a developed economy in the next two decades.
Bangladesh needs to prepare its workforce for the emerging
challenges for a dynamic economy in an increasingly
globalized world. The economy is undergoing structural
changes on several fronts. First, Bangladesh has
transitioned from a largely traditional, agriculture-based
economy to an industry and service-driven economy. Industry
sector has been the main driving force for economic growth.
Second, more recently, technological progress is rapidly
changing the production and service modality. Firms need to
not only constantly adjust their business and production
modality with these technological changes but also have
highly skilled manpower who can enable such change
processes. Third, a growing and youthful workforce in
Bangladesh provides a window of opportunity to improve
productivity and accelerate economic growth. Equipping the
young generation with the skills needed for jobs remains
crucial. On one hand, employers are demanding higher-skilled
professionals for technical and managerial positions to
support the growing industry and service sectors. On the
other hand, tertiary education institutes (TEIs) are
struggling to produce employable graduates for the job
market. Unemployment rates are consistently high among
tertiary graduates, causing prolonged and frustrating
joblessness for many. At the same time, the culture and
practice of collaborative research to promote industry
competitiveness and innovation has been largely missing in
the country’s tertiary education landscape, undermining
Bangladesh’s competitiveness ranking in the global knowledge
economy. There is urgent need to identify and address the
challenges in the sector and orient tertiary education
toward the demands of the economy and labor market to help
realize Bangladesh’s full economic development potential. On
one hand, employers are demanding higher-skilled
professionals for technical and managerial positions to
support the growing industry and service sectors. On the
other hand, tertiary education institutes (TEIs) are
struggling to produce employable graduates for the job
market. Unemployment rates are consistently high among
tertiary graduates, causing prolonged and frustrating
joblessness for many. At the same time, the culture and
practice of collaborative research to promote industry
competitiveness and innovation has been largely missing in
the country’s tertiary education landscape, undermining
Bangladesh’s competitiveness ranking in the global knowledge
economy. There is urgent need to identify and address the
challenges in the sector and orient tertiary education
toward the demands of the economy and labor market to help
realize Bangladesh’s full economic development potential. |
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