Originally posted in The Daily Star on 1 November 2022
Invest in developing skills, technical know-how
Entrepreneurs and economists urge Germany
Entrepreneurs and economists have urged Germany to invest in developing the skills and technical know-how of youths in Bangladesh so that it can embrace the fourth industrial revolution.
The country needs foreign direct investment for developing efficiency, skills and technical knowledge in its workforce, according to Md Saiful Islam, managing director of Picard Bangladesh.
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Having the right skills is influential for making the most of the fourth industrial revolution and so, Germany could help in this regard, he said.
Islam was speaking at a panel discussion, styled “For a Just Transition in Bangladesh – The Future of Bangladesh’s Economy and the role of Germany-Bangladesh Development Cooperation”, at the Renaissance Dhaka Gulshan Hotel on Sunday.
The event, organised by the German embassy in Dhaka, was held in celebration of the 50 years of development cooperation between Germany and Bangladesh.
In response to a query, Islam said the government is working to reduce the leather sector’s impact on the environment but as the central effluent treatment plant at the Savar Tannery Industrial Estate is not functional, the environment is still exposed to pollution.
As Bangladesh is rich in natural resources for leather and its associated goods, which are major export earners for the country, the government and local private sector are both trying to improve the situation in this regard, he added.
Fahmida Khatun, executive director of the Centre for Policy Dialogue, said the country is witnessing high economic growth but it is not being accompanied by an adequate expansion in the domestic job market.
As such, many create their own source of income but having skills and access to finance are necessary to this end.
“Traditionally, women lag behind in adopting technology so huge training and skills development programmes are needed even if they are sent abroad as migrants,” she added.
Bangladesh may face some challenges after 2029, when trade benefits under the generalised system of preferences (GSP) will no longer be available due to its graduation from a least developed country, according to MA Razzaque, research director of the Policy Research Institute.
But considering how the local garment sector has made huge contributions towards women empowerment, Germany could help wave certain conditions in the draft GSP that is now under process, he said.
“The corporate sector is trying to follow environment and social governance guidelines, but they need cooperation from Germany in this regard,” he added.
Bärbel Kofler, German parliamentary state secretary for development cooperation, said the German government, some 50 German civil society project agencies and faith-based organisations have been working to foster food security and sustainable economic development in Bangladesh.
“Today, our development cooperation focuses on further developing the textile sector, improving energy efficiency, expanding renewable energy generation and fostering adaptation to climate change,” Kofler said.
“Even though we have achieved a lot together, the challenges of our times mean that we must not rest on our laurels. In order to put the progress made in Bangladesh on lasting basis, we should intensity our efforts in the areas of energy security, fair working conditions, and strengthening civil society,” she added.
Kofler also highlighted the achievements and challenges and described pathways for future development cooperation between Bangladesh and Germany.
Achim Tröster, the German ambassador to Bangladesh, made welcome remarks while Tuomo Poutiainen, country director of the International Labour Organization, also spoke at the event.