Bangladesh is a land of opportunities. There has always been a lively debate on the possible direction of the nation’s economy. Sometimes it appears as a myth that can surprise many, to see that the economy is still growing in a respectful fashion; maybe not in a planned manner, but the bottom line is the economy is expanding despite barriers. The consumption pattern is changing and is on the rise, and the economy has a substantial amount of prospects for further and rapid growth.
Realistically, the engine of this growth is increased private sector participation in the economy. Let me talk about two outlooks as follows:
Optimistic outlook
I can see a 10% GDP growth for the country. It is very ambitious but at the same time, doable. The logic behind this outlook is if a country can move from about 4% to near 8% growth despite enormous challenges, a 10% growth is also possible. A 10% growth is needed for the nation and the people of Bangladesh deserve this.
Pessimistic outlook
The possible key hindrances against this ambitious but required growth are a) poor infrastructure and no sign of immediate breakthrough to address this b) slow and inefficient bureaucracy c) actual corruption and perception of corruption, and d) uncertainty and unpredictability.
We need to rethink and reposition our politics, bureaucracy, education, democracy, development, innovation, national image, and branding.
The government should reduce its headaches by shifting responsibilities to the private sector to develop infrastructure. The private sector can thrive if they are allowed to operate freely in an enabling atmosphere, and the private sector has already proved its ability in Bangladesh.
One of the major options in the world today for the development of infrastructure is to go by Public Private Partnership (PPP).
There are many counties that have demonstrated their success through this process. India, Philippines, Indonesia, Vietnam are great examples in this respect. PPP is a unique arrangement and partnership between the government and the private sector, where the government identifies the important projects for public good and allows the private sector participation through the process of transparent tendering, negotiation and comprehensive agreement. Of course, three things are essential for the success of PPP: a) Right policy b) Right process c) Right project. In order to reduce the investment deficit, participation of the private sector through public-private partnership (PPP) is an important route.
Models of PPP
There are different models and approaches for PPPs. While different countries have adopted a wide range of models, the following are among the common models.
Build-Own-Operate (BOO): In this model, the private sector manages the infrastructure on build-own-operate basis. The government usually does not manage the infrastructure developed under this model. The Independent Power Producer (IPP) is an example of the BOO model in Bangladesh.
Build-Operate-Transfer (BOT): Here, the private sector manages the infrastructure on a build-operate-transfer basis. The private sector manages the infrastructure until a specified time, after which the government is responsible for its management.
Build-Own-Operate-Transfer (BOOT): This is an extended version of the BOT model. Under this model, the ownership and management belongs to the private sector until a specified time. After expiry of the term, ownership and management is transferred to the government.
The knowledge economy commonly makes up a large share of all economic activity in developed countries. Lesser developed countries tend to have agriculture or manufacturing-based economies, while developing countries tend to have manufacturing or manufacturing or service based economies, and developed countries tend to have service based economies.
Private sector in education can:
- Help alleviate financial constraints by expanding the capacity of the sector
- Promote efficiency and effectiveness
- Overcome infrastructure and technology constraints
- Ensure quality through competition, standards, and consistent policies
- Provide flexible curriculum to suit market needs
- Address the mismatch between demand and supply
Thoughts on higher education through PPP in Bangladesh
Imparting education is generally perceived as the responsibility of the government. But, a lack of financial and managerial capacity often impedes the government’s ability concerning the national education system. So the concepts of PPP could be seriously considered in order to shape the future education system of Bangladesh, and thereby ensure necessary economic growth.
The main rationale for developing public private partnerships (PPPs) in education is to maximize the potential to expand equitable access and improve education outcomes, especially for marginalized groups. PPP, when implemented correctly, can increase efficiency and choice as well as expand access to education services. PPP model in education could be the most effective way to smartly create knowledge bridges for Bangladesh to successfully navigate through the 21st century.
World-class higher education
If we look at the economic, scientific, and technological advancement of the whole world, and also look at the speed of progress of the nations, we cannot afford to think of anything cheap at the moment; whatever we do, it should be world-class and highly competitive. Every developed country has the best possible higher education embedded in the system that works as a catalyst to continue development efforts and sustain their achievements. Bangladesh should have adequate planning, and a blueprint for actions to go for world-class higher education.
The major aim of the universities should be to undertake world-class research in various areas. In addition to the university's own rich research, highest quality research institutions should be established through public-private initiative. Rethinking and innovation must get the topmost priority in these centres.
Involving non-resident Bangladeshis
There are a significant number of NRBs (Non Resident Bangladeshis) and POBs (Persons of Bangladesh Origin) available all over the world, blessed with remarkable higher education in multiple disciplines, but unfortunately, we failed to gainfully utilize these precious resources for our nation building activities.
Singapore, Malaysia, and South Korea have done this. China and India are doing this, and the results are outstanding -- which we can see sitting in Bangladesh. A fully-equipped diaspora centre under PPP could be established so that NRBs get a legal forum to get involved with development-related thinking and initiatives.
University-industry linkages
If we look at any developed countries, we would find that collaboration between universities and industries is inseparable. The universities here base their research by considering the needs of the businesses, and businesses get the opportunity to flourish using the dynamic results of the customized research. Thus universities and industries can complement each other’s progress. As the university grows, the industry grows, and likewise, when the industry grows, the university grows. Ultimately, the entire nation grows.
Decentralization
In Bangladesh, everything is concentrated in Dhaka. Absence of high quality educational institutions outside Dhaka has created a perception that after passing HSC, one must come to Dhaka to receive the higher education, and this eventually encourages the family members of the students to also migrate to Dhaka.
My thought is that the major educational institutions which have already become prominent and well accepted to all, for example, BUET, Dhaka University, IBA, etc could start thinking of having their branches outside Dhaka, starting with the divisional headquarters. Here too, PPP could play a rewarding role.
Dreams and imagination
My final thought is that we should genuinely cultivate a culture in our society where we can effectively promote the ability to dream and cultivate the imagination needed to build our beloved nation. The first step should be focused towards motivating our people, especially the young generation, that the future is golden for them and there is no reason for disappointment and frustration.
We need to be much faster in our thinking and actions. We should continue marching ahead with a vision of establishing Bangladesh, initially as a middle income country, and then as a respectful, developed country. A united and forward-looking Bangladesh has tremendous potential to transform into a developed country.
In order to accomplish this dream, a world-class higher education with the right strategy from the beginning is the key. Technology, knowledge, and engaging the best brains of the society, will be the driving forces to take Bangladesh to the next desired level of economic and social development.
A Gafur is the Director of Abdul Monem Economic Zone Limited and former Executive Director, The American Chamber of Commerce in Bangladesh. The views expressed in this article are of the author, not necessarily of his organization.
