<div><h4>Description</h4><p>Bangladesh has achieved robust economic growth, averaging more than 6.0% since 2011 and recording 8.1% for FY2019. Such strong growth has been driven by steady expansion and surge in export-oriented manufacturing industries, such as ready-made garment, textile, leather, and food processing. The service sector is also growing, including retail, health care and tourism. Despite sustained growth during the past decade, the country faces tremendous challenge in developing a skilled, competitive workforce that can meet emerging skills needs in the local and global labor markets. The working-age population is expanding fast from 87 million in 2011 to 119 million by 2026, with 2 million potential new entrants to the labor force every year. More than half of the labor force have only primary education or less; and less than 4.0% of the working-age population (aged 1559) had received any technical or vocational training. Youth unemployment rate has risen from 4.0% in 1991 to more than 10% currently. To sustain the country's growth path and reap the benefit of demographic dividend, the country needs to invest in its human capital resources and develop a well-trained and highly-skilled workforce. Rapid technology advances are also affecting Bangladesh industries, altering the nature of jobs which demand higher levels of technical and cognitive skills while reducing demand for low-skilled jobs.</p></div>

Supporting Technical Education and Skills Development Facility

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Supporting Technical Education and Skills Development Facility: Technical Assistance Report

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