Govt prioritises technical, vocational education to boost employment

"Demand-driven technical and vocational education and training programmes will be expanded," Finance Minister Amir Khosru Mahmud Chowdhury said in his budget speech.

He said financial support would be provided to young entrepreneurs to improve access to opportunities and promote employment, particularly for women and marginalised groups.

The minister said employment generation across various sectors remains a central pillar of the government's economic recovery and inclusive growth strategy, guided by the principle of "We Will Work, and Will Build the Country Together".

Referring to recent labour market trends, he said that although the industrial and services sectors have increased their contribution to national value addition over the past decade, employment growth in those sectors has not kept pace.

To address the imbalance, the government has prioritised expanding jobs in industry, services, small and medium-sized enterprises (SMEs), information technology and modern agro-based industries.

The minister said productive investment, expansion of export-oriented industries and the development of a skilled workforce would help restore structural balance in the labour market over the medium term.

He also highlighted the importance of the creative economy, saying greater investment in the sector would open new avenues for employment, entrepreneurship and economic growth, reports UNB.

With coordinated initiatives, the government aims to build a productive, skilled and sustainable employment-based economy over the long term, which will raise incomes, reduce poverty and support a more dynamic and inclusive pattern of economic growth, he added.