Why Bangladesh Must Focus on Tech & Innovation
Published on July 15, 2024 by Md. Sajjadur Rahman Suman
Bangladesh has made incredible economic strides over the past two decades, largely driven by the Ready-Made Garments (RMG) industry. While we should be proud of this achievement, relying so heavily on a single sector is a precarious long-term strategy. To build a resilient and prosperous future, Bangladesh must pivot its focus towards technology and innovation.
Moving Beyond the RMG Crutch
The global economy is evolving. Automation, changing consumer demands, and geopolitical shifts can disrupt supply chains overnight. The RMG sector is vulnerable to these changes. To ensure sustainable growth, we must diversify our economy by investing in knowledge-based industries. This isn't about replacing RMG, but about building new pillars of economic strength alongside it.
The Demographic Dividend: Our Greatest Asset
Over 60% of Bangladesh's population is under the age of 35. This "demographic dividend" is our greatest asset, but it's a window of opportunity that won't stay open forever. We need to equip this young, energetic workforce with the skills needed for the 21st-century economy: coding, data science, AI, digital marketing, and critical thinking. Investing in tech education is not an expense; it's an investment in our future.
Solving Local Problems with Global Solutions
From traffic congestion in Dhaka to agricultural inefficiencies in rural areas, Bangladesh has a unique set of challenges. Technology provides the tools to solve these problems at scale. Imagine smart traffic management systems, agri-tech platforms that connect farmers directly to markets, and ed-tech solutions that bring quality education to every corner of the country. By focusing on local problems, we can create innovative solutions that have global applications.
Innovation is not just about creating the next big app. It's about a mindset of continuous improvement and creative problem-solving in every sector, from farming to finance.
The path forward requires a concerted effort from the government, the private sector, and our educational institutions. We need policies that encourage startups, a curriculum that teaches relevant skills, and a culture that celebrates risk-taking and innovation. The vision for a "Smart Bangladesh" is the right one, but it must be backed by concrete action and a collective will to build a future powered by the ingenuity of our own people.