Sayed Ibrahim Ahmed //

Bangladesh is standing at a wonderful juncture of time. Where the young generation is not only a large part of the population, but also the leader of a prosperous future. However, there is still a huge gap between the dreams, potential and reality of the youth.

Now is the right time for students to start their studies or careers. They have to decide what they want to be. Along with the future of the country and society, they have to decide their own future and move forward with their dreams.

According to the idea of ​​population experts, Bangladesh will enjoy the benefits of demographic dividend until 2037-38. By this time, most of the country’s population will be able to work. In this regard, necessary initiatives must be taken as soon as possible to empower the youth in general to achieve national success. Otherwise, these young people will become a burden on the country one day.

Students have achieved the impossible through the July Uprising. The same attention and hard work that they have done through their movement and have become a part of proud history, they must improve in their respective professions, businesses or studies. If there is a huge gap between the hopes and aspirations of the anti-discrimination student movement and the reality, it can lead to disappointment. It is very important to take the reality of the lives of the youth into consideration in the overall growth of the country. To make the immense potential that we see in the youth a reality, four main pillars can be mentioned – employment, the process of transforming them into public assets, self-reliance and mental health. If there is no proper and balanced investment in these four pillars, the potential of this generation will remain stuck only in data and information.

Permanent and respectable employment is now the most needed for the youth of the country. A job is not just a means of earning money, it is a symbol of their identity and dignity. Yet we are faced with a reality where the unemployment rate of highly educated youth is relatively high. Out of every 100 unemployed, 28 are highly educated. This information has emerged in the full report of the Task Force on Formulating and Redesigning Economic Strategies and Assembling Necessary Resources for Sustainable Development without Discrimination.

This means that the problem is not only due to the shortage of jobs; the lack of connection between our education system and the labor market is also responsible for it. Currently, employers emphasize not only certificates; but also technical skills, analytical thinking and practical experience in hiring. The curricula of many universities are still not in line with the needs of the labor market. To fulfill the dream of building the Bangladesh of the future, we must emphasize education, especially information technology, finance, logistics, renewable energy and soft skills.

I have seen many students in economics and finance who know the theory but do not know how to make a budget, they do not have a basic understanding of investments, and they are hesitant to even use banking apps. However, one of the keys to financial self-reliance is financial awareness, which is still absent from our mainstream education.

In many countries, including Indonesia and the Philippines, which are emerging economies of the world, financial literacy is being taught in schools. We should also include basic education on income and expenditure accounting, savings, investment and basic banking at the secondary and higher secondary levels. In this regard, initiatives can be taken in public-private partnerships. Initiatives like virtual trading simulation programs and investment clubs on campus will play a role in creating financial capacity and advance awareness among the youth.

In addition, a big possibility is the name of entrepreneurship. Currently, the consciousness of self-employment is increasing among the youth. Many of the youth are using social media to create different brands, launching e-commerce in rural areas or exporting IT services. The biggest capital in these initiatives is their own skills. There is aspiration and enthusiasm among our youth. They are also willing to acquire new skills. But they face various obstacles in taking new initiatives; such as the complicated registration process, lack of bank loans on easy terms and the crisis arising in getting advice for making timely and fruitful decisions in business. As a result of such obstacles, various promising initiatives are being nipped in the bud, and the tendency of the youth to take initiatives is also declining.

The rate of entrepreneurship among young people in Bangladesh is lower than in many South Asian countries. A 2023 survey by the Center for Policy Dialogue (CPD) found that 68 percent of young entrepreneurs consider financial crisis as their biggest challenge. University-based incubation centers, startup labs, and government-supported ‘seed money’ projects can solve this problem. In addition to taking such initiatives, they must also be implemented at the marginal level. It must be ensured that young entrepreneurs in Barisal, Comilla, or Saidpur outside Dhaka receive accelerator support.
However, it is not enough to just increase employment opportunities or create entrepreneurs, we also need to think about the mental health of our youth. It should be remembered that a compassionate environment is also needed for the full development of their personality. A research paper published last year revealed that 25 to 71 percent of the country’s university students face moderate to severe depression, anxiety or stress. A recently published survey by the Aanchal Foundation revealed that the suicide rate is highest among those aged 13 to 19. This is followed by those aged 20 to 25 (24 percent).

Even if students are under some kind of stress, there is no large-scale implementation of supportive initiatives for them. To address this problem, educational institutions now need to become ‘humanitarian educational institutions’, where not only grades; but also emotions, empathy and mindfulness will be given priority.

Youth participation is also needed in the socio-civic sphere. Not only voting; but their opinions and participation are important in the environment, gender equality, technology education, and even local government. We are already seeing various youth-led initiatives, such as the climate movement, the platform for women’s rights or digital education for marginalized people. The social vision behind these initiatives is commendable. What is needed now is to encourage youth participation at the state level and create a connection with them at the policy-making level.

These initiatives cannot be done by any individual or institution alone. For this, we need a coordinated strategy, a national framework; where the Ministry of Education, the Department of Youth Development, the ICT Department, the Ministry of Finance, the private sector, universities and expatriate professionals work together.

We have promising young people, but we have not yet fully created the framework needed for their full development of talent. The ‘demographic dividend’ is not only an opportunity, but also a responsibility. If we fail to take that responsibility now, the future will hold us responsible. They are independent in their thinking and enthusiastic in fulfilling their dreams. They lack opportunities and the right framework. We now have to create those opportunities, build the framework; where ethical behavior, education system, employment and mental health will be prioritized.

Sayeed Ibrahim Ahmed: Assistant Professor, American International University-Bangladesh
siahmed@aiub.edu

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