Finance Adviser Dr. Salehuddin Ahmed today announced the launching of "Skills for Industry Competitiveness and Innovation Program (SICIP)" as  chief guest funded jointly by ADB and the Government of Bangladesh to boost the industry competitiveness and Innovation in the country.

M. Saifullah Panna, Secretary, Chief Adviser's Office, Md. Shahriar Kader Siddiky, Secretary, Economic Relations Division and Jiangbo Ning, Deputy Country Director, Bangladesh Resident Mission, Asian Development Bank were present as special quests at the launching event at a city hotel with Finance Secretary and National Program Director of SICIP Dr. Md Khairuzzaman Mozumder in the chair.

Speaking on the occasion, the Finance Adviser said that two words of the title of the SICIP are important which are competitiveness and innovation.

Considering the huge population of Bangladesh, he said that skills, technology, labour and skills are also important to move the country forward.

Putting more emphasis on industry-academia collaboration, Dr Salehuddin said that that the conglomerates and business houses of the country need to invest more in research and development.

"We must increase productivity in labour and skills," he added.

The secretary of the Finance Division thanked everyone participating in the ceremony, mentioning that SICIP is not just a programme; it is a critical step towards unlocking the full potential of our human capital and concluded the ceremony.

Additional Secretary and Executive Program Director of SICIP Mohammed Walid Hossain delivered the welcome speech and gave a presentation highlighting major features and targets under SICIP.

He mentioned that SICIP is designed to enhance the skills of our workforce, bridge the gap between education and industry demands and ultimately strengthen the competitiveness of the economy.

SICIP Programme's overall impact will be a technology-ready workforce developed for a diversified and innovation-driven economy.

Out of the total programme cost of $375 million, the ADB would provide $300 million while the rest of $75 million from the Government of Bangladesh .

Finance Division is the executing agency of the Programme while Skills Development Coordination and Monitoring Unit (SDCMU) is the implementing agency. The Programme is scheduled to complete by June 2025.

The targeted sectors for entry and mid-level skills training include RMG including knitwear, textile, ICT, construction, light engineering, leather,  footwear, shipbuilding, healthcare, tourism and hospitality, transport, jute goods, automobile and automobile industry and electronics sector.