How long will we ignore R&D?

At this age of technological advancement, it is crucial for Bangladesh to enhance its competitiveness and productivity through research and innovation. Without this, we won't be able to sustain a steady economic growth. Sadly, Bangladesh still lags far behind its competitors in terms of investing in research and development (R&D). According to a study by the Centre for Policy Dialogue (CPD), the majority of industries in the country spend less than Tk 500 on R&D per worker annually, which is quite shocking. If we do not reverse this scenario, our hope of becoming a developed nation in less than two decades will remain a far-fetched dream.

According to the CPD, the country's pharmaceuticals and allied industry spends the most among all industries on R&D, with its per worker expenditure standing at Tk 23,735. Among other industries, tobacco spends Tk 1,858, paper Tk 1,627, and textiles Tk 436. Conversely, there are some sectors such as recycling, beverage, wood, wood-based products, motor vehicles, trailers and semi-trailers, repair and installation of machinery and equipment that don't spend anything on this. What's most unfortunate is that the garments industry – one of the key drivers of our economic growth – channels only 2 percent of its budget to R&D.

The fact that the majority of manufacturing firms in the country do not have a digital presence in the form of websites speaks volumes about our aversion to change. The question is, how long will we ignore research, innovation, workforce development, and use of advanced technologies? How long will manufacturing and other industries keep hiring experts from abroad? How long will we remain overly dependent on low-skilled migrant workers when other countries are earning more by exporting skilled labour?

Bangladesh's position in the Global Innovation Index 2022 – which is 102 among 132 countries – should have sounded the alarm bell for the authorities. It is high time they along with our industries took a more active interest in research, development and innovation, and built a competitive workforce for our future economic growth.