'Increase investments in human capital to utilize BD's demographic dividend'

Speakers at a seminar on Wednesday underscored the need for increasing investments in human capital to utilize the benefits of Bangladesh's demographic dividend and impressive growth.

They also said better and diversified investment instruments should be there in place in the country rather than savings certificate so that people are encouraged for savings and investment.

Social Development Foundation (SDF) arranged the seminar titled 'Rural Transformation and Entrepreneurship Development in Bangladesh' at a city hotel.

Prime Minister's Economic Affairs Adviser Dr Mashiur Rahman addressed the program as the chief guest. Additional Secretary of the Finance Ministry Arijit Chowdhury delivered the keynote address.

Senior Secretary of the Finance Ministry's M Ashadul Islam, World Bank's Practice Manger (Agriculture)  Loraine Ronchi, and SDF Managing Director AZM Sakhawat Hossain also spoke at the program presided over by SDF Chairperson MI Chowdhury.

Speaking at the program, Mashiur Rahman said the government set up SDF as a homegrown enterprise to address the issue of poverty and resolve the problems of the poor, and later the World Bank and other donors and aid agencies joined it as its supporting hands.

He said the poverty reduction programs should be worked out with new ideas without duplication. "Avoiding duplication indicates that you know a wide variety of intervention mechanisms. If poverty doesn't have a widely varied character, most probably your interventions will not be widely diversified."

Dr Mashiur also focused on professionalism for delivering better services and help the government steer the country towards rapid progress.  "Much greater professionalism will be required if we want to ensure what the Prime Minister wants to do."

In his keynote paper, Arijit Chowdhury said as the country's economy is growing faster, higher labor productivity is essential to diversify the economy as the demand of high-level skill is also growing. "Investment in human capital is required to utilize the benefits of Bangladesh's demographic dividend."

He said the SDF successfully implemented many pro-poor projects while it is now in the final year of completing the Nuton Jibon Livelihood Improvement Project (NJLIP).

The additional secretary said this is a big initiative of SDF to supplement the government's efforts for achieving the SDGs to reduce poverty and become a middle-income nation.

Loraine Ronchi said a huge number of people in Bangladesh are still below the poverty line despite the impressive growth of the country. SDF through its various projects, including the NJLIP, has been playing a very important role in reducing poverty, she said.

SDF Chairperson MI Chowdhury said their organization has been playing a tremendous role in developing the socio-economic condition of the country's disadvantaged people and women.

Narrating SDF's various initiatives in alleviating poverty, MI Chowdhury said their organization will also perform the duties to be given by the government in the days to come and thus help build 'Sonar Bangla' as dreamt by Bangabandhu Sheikh Mujibur Rahman.