• Friday, Aug 23, 2019
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More investment sought for youth development

  • Published at 09:52 pm July 2nd, 2019
More investment sought for youth development
Guests attend a dialogue organised by the South Asian Network on Economic Modelling (Sanem), in partnership with ActionAid Bangladesh in the capital on Tuesday Mahmud Hossain Opu/Dhaka Tribune

They have also urged the private sector to come up with funds for research and innovation, which will help the country to utilize demographic dividend

More investment on young people with effective work plan is essential for mitigating the skills mismatch of graduates to enable them to find suitable jobs in order to take demographic dividend, experts have said. 

They have also urged the private sector to come up with funds for research and innovation, which will help the country to utilize demographic dividend. 

They came up with the call at a dialogue “Realizing the Demographic Dividend: Investment on Young People: Reflection on National Budget 2019-20” organised by the South Asian Network on Economic Modelling (Sanem), in partnership with ActionAid Bangladesh in the capital on Tuesday.  

Deputy Education Minister Mohibul Hassan Chowdhoury was present as chief guest and Planning Commission Member  Shamsul Alam as guest of honour. Sanem Executive Director Selim Raihan moderated the dialogue.

“Budget allocation for the ministries concerned, which are related to youth development, is not enough and properly youth sensitive and we did not find relevance of youth development in the budget allocation,” said Sayema Haque Bidisha, research director of Sanem, in her presentation.

“There is lots of talks about investing on young people. The actual investment funds are not coming to young people,” said Farzeen Ferdous Alam, founder, Oggro Venture. 

"Farmers are relatively old. Youth population are not attracted to farming. So there is a strong need for investing on youth to encourage to come to farming through introducing modern technologies," he added. 

“We are currently in the first phase of demographic dividend. We need to focus on good governance to realise the demographic dividend as without good governance, even if all the indicators are favourable, we will not be able to utilise it,” said Moinul Islam, chairman of Population Sciences Department, University of Dhaka.

Mohibul Hassan Chowdhoury said it was imperative to provide employment for the rural population. 

About 100-year Delta Plan, he said this plan included not only the demographic dividend but also focused on the phenomena of increasing elderly population and how to handle the situation.

“We want to train up the teachers of our own country in foreign countries to equip them to handle the needs of the students better,” he added

In her closing remarks Farah Kabir emphasized the fact that it was important to provide safety to women in order to ensure their participation in the workforce. 

She talked about the fact that the job security in the employment in the gig economy was a big question which needed to be addressed. 

“It is important for private sector to invest in research. However, market solutions are not enough for basic sectors such as health and education,” Selim Raihan. 

Citing the example of developed countries Shamsul Alam urged the private sector and big corporations to come up with funds for the research and called for reducing dependency on government for everything.