The present government has outlined its plans for the progress and development of Bangladesh in the Vision 2021 program. It pledges to combat poverty by building a Digital Bangladesh and obtain the status of middle-income country by 2021. The government also recognizes that there is a huge demand for skilled manpower at home and abroad, and that there is a possibility for increased demand in the future. It has therefore emphasized the production of more skilled manpower for work abroad. It envisages that all new entrants to the work force will be trained formally to enhance their knowledge, skills, and creativity to achieve nearly full employment by 2021. The government has also envisioned that both the public and private sectors will expand the network of quality vocational training institutes to ensure full-scale vocational training with adequate practical exposure.
The SEIP project supports the Government of Bangladesh’s (GoB) reforms in skills development articulated in the National Skill Development Policy (NSDP) and National Education Policy (NEP). It will help catalyze the private sector in a major way in providing market responsive skills development and forging partnerships with public training institutions to make skills development responsive to emerging labor market needs. Private sector involvement will help in reducing existing glaring skills-gap, which in turn is crucial for Bangladesh to move away from the current “low-skill, low-wage equilibrium” to a higher skill, higher wage equilibrium necessary to transition to a middle income country. The project will help the government to scale-up skilling of new
entrants and up-skilling of existing workers to increase productivity of its labor force, which will lead to increase in average household incomes and contribute to accelerating economic growth in priority sectors.