Harvesting demographic dividends

According to the 2022 census, the country's current youth population is 45.9 million. The youth comprising such a huge percentage of the total population can be a great opportunity for Bangladesh if we ensure proper education and a good job market. It's high time to focus on youth grooming and grow up Youth leadership. Otherwise insufficient job opportunities, lack of education and skills, and inadequate healthcare can result in a demographic burden rather than dividends.

As per the Labour Force Survey 2022, the number of unemployed graduates doubled in five years. It's clear that effective policies, strategies and timely action are needed to address these challenges facing our youth. Our motto should be to achieve full and productive employment for both men and women, including the youth and persons with disabilities, by 2030.

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Utilise the demographic dividend as an asset, before it becomes a liability

For instance, we can start by enhancing young people's interest in Bangladesh's agricultural industry. Encouraging young entrepreneurs to enter this sector can lead to innovation and advancements. Startups can focus on developing smart farming solutions and agricultural apps, while sustainable practices can contribute to the modernisation of agriculture. Organic farming, water conservation, and eco-friendly methods that are in line with smart agriculture should all be encouraged. There should be research centres and laboratories within universities to facilitate innovative research projects. More public investment in the agriculture sector can ensure the development of market infrastructures, which will ensure fair pricing and reduce post-harvest losses.

Additionally, forging global partnerships is crucial for the sustainable development of Bangladesh's agricultural sector. Agricultural technologies should be transferred from developed to developing countries through global partnership facilitates. International collaboration can also ensure fair trade practices, reducing barriers and ensuring market access for agricultural products from different regions.

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Are we listening to the young people?

It is important to educate the youth about banking services and financial planning. Credit facilities with flexible repayment structures can help young people invest in seeds, fertilisers, equipment, and technology.

The working-age population is gradually exceeding the non-working-age population. This demographic change can have a significant impact on the economy, as this working-age population can be transformed into a productive workforce if we invest effectively in their development. This developed workforce can eventually lead to greater economic growth for Bangladesh.

Fouzia Jannat Jeba works at City Bank as an assistant manager in the IT division.

Views expressed in this article are the author's own.

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