Skill Development: A Priority for Sustainable Development

3 Pages Posted: 20 Dec 2017

Date Written: December 18, 2017

Abstract

Skills development became an emergency issue for Bangladesh to achieve its visions and to increase valuable foreign currency earning in any forms namely; export earnings and remittance. According to a recent study conducted by BIDS titled “Labour Market and Skill Gap in Bangladesh” labor demand has been projected to increase from 63.5 million in 2016 to 88.7 million in 2025. The rapid increase in projected labor demand is the result of high projections of GDP growth, which has been assumed to be sustainable with the same elasticity of employment as experienced during the last decade. From the year 2021, labor demand will be in excess of supply of labor in Bangladesh. In fact, Planning Commission has also estimated that during the Seventh Five Year Plan period, labor demand generation would be in excess of supply. The Asian Development Bank (ADB) also mentioned that Bangladesh is in skills shortage in a study conducted in 2015.

Keywords: Skills Development, Capacity Building

JEL Classification: J24

Suggested Citation

Abdin, Md. Joynal, Skill Development: A Priority for Sustainable Development (December 18, 2017). Available at SSRN: https://ssrn.com/abstract=3089501

Md. Joynal Abdin (Contact Author)

DCCI Business Institute (DBI) ( email )

DCCI Building (11th Floor), 65-66 Motijheel C/A
Dhaka, 1000
Bangladesh

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