Over the past twenty years, Bangladesh has made significant economic progress, moving from one of the world’s poorest nations in 1971 to achieving lower-middle-income status by 2015. The country is on track to graduate from the UN’s Least Developed Countries (LDC) list by 2026, driven by strong demographic growth, booming ready-made garment (RMG) exports, steady remittance inflows, and stable macroeconomic conditions. However, post-pandemic recovery has been challenging, with real GDP growth slowing to 5.8% in FY23 from 7.1% the previous year.
To reach upper-middle-income status by 2031, Bangladesh needs to focus on job creation, human capital development, and improving infrastructure. Skill development in Bangladesh is especially important, as the Technical and Vocational Education and Training (TVET) sector currently serves only a small portion of the population. With 2.2 million people entering the labor market annually and only 1.9% receiving formal skills training, there’s a significant gap between job market needs and available skills. Enhancing the TVET curriculum and fostering better collaboration between educational institutions and the private sector are key to bridging this gap.
This skills mismatch hampers business growth, limits export potential, and restricts career opportunities. To address these challenges, NeXgen Global Group is playing a crucial role in Bangladesh’s economic development. It is a forward-thinking multinational organisation that is making a significant impact on economic development through innovative Bangladesh workforce development approach.
Their mission is to empower both individuals and organisations by offering cutting-edge education, skilled professionals, and digital intelligence solutions. in this blog we will discuss, how NeXgen Global Group equipping Bangladeshi individuals with the skills needed to succeed in the modern world which help them contribute meaningfully to the economic growth of Bangladesh.
NeXgen Global’s Commitment to Bangladesh
NeXgen Global contributions in Bangladesh is dedicated to addressing skills gap through a comprehensive strategy that involves various initiatives and partners:
- Skills Australia: This division focuses on developing vocational curricula, training trainers, and analyzing job market trends. By aligning vocational programs with industry needs and upskilling trainers, Skills Australia helps prepare a future-ready workforce and ensures a smooth transition for graduates into the job market.
- Dgen Academy: As the digital age evolves, Dgen Academy offers essential training in areas like social media marketing and lead generation. Their courses are designed to help Bangladeshi professionals thrive in the digital landscape, equipping them with the skills needed to succeed online.
- Langford English College: Effective communication is crucial in today’s global job market. Langford English College provides high-quality English language programs to help Bangladeshi professionals bridge language barriers and access international career opportunities.
- Victorian International Institute of Technical Education (VIITE): VIITE offers specialized vocational training in fields such as hospitality and construction. Their programs are tailored to meet industry demands, addressing skill shortages and contributing to Bangladesh’s economic diversification.
- Melbourne Metropolitan College (MMC): MMC provides vocational programs in areas like Information Technology, Construction, and Business Management. Their courses equip students with both practical skills and theoretical knowledge, preparing them for successful careers.
- AiBotics Digital: As a leading global digital marketing agency, AiBotics Digital supports Bangladeshi brands and startups with customised digital marketing, branding, and website solutions. Their expertise in targeted campaigns and digital optimisation helps businesses thrive online, driving economic growth.
- Global Talent Connect: This organisation addresses skill shortages by connecting skilled professionals with businesses in Australia and Fiji. Their innovative recruitment and upskilling methods offer valuable insights that can be adapted to meet Bangladesh’s workforce needs.
- ISSA International Support Australia: ISSA provides comprehensive support to international students in Australia, including academic guidance and social integration. Their assistance ensures that students have a successful and fulfilling experience abroad.
Addressing Skill Shortages in Bangladesh
Bangladesh is facing a significant challenge with skill shortages as local job opportunities remain scarce and demand for skilled workers rises abroad. About 51% of Bangladeshi workers in countries like the Middle East and Malaysia lack proper training and education, revealing a critical skills gap. To tackle this issue, Bangladesh needs to enhance its Technical and Vocational Education and Training (TVET) system.
Currently, the system struggles with outdated training assessments, poor alignment with market needs, and limited industrial involvement. Additional challenges include restricted access due to educational barriers, gender biases, and insufficient private sector participation. Improving vocational education and training opportunities in Bangladesh can open the door to more job opportunities, especially abroad. This, in turn, can lead to an increase in remittances flowing into the country, boosting the economy.
NeXgen Global’s Initiative:
NeXgen Global Group is addressing the skills gap in Bangladesh through specialized training programs offered by its partner institutions: Victorian International Institute of Technical Education (VIITE), Melbourne Metropolitan College (MMC), and DGen Academy. Each institution focuses on specific industry needs, ensuring that Bangladeshi workers acquire the skills required for both local and international job markets.
- VIITE: This institution specializes in vocational training for fields such as hospitality management. Its courses, including Commercial Cookery, Hospital Management, and Community Services, are designed to support the tourism sector and prepare skilled professionals. VIITE updates its curriculum regularly to align with industry trends and provides a supportive learning environment with modern facilities. It has over 100 international students, preparing them to be workforce-ready.
- Melbourne Metropolitan College (MMC): MMC offers a variety of programs in Information Technology, Automotive Technology, and Cyber Security. With a student-centric approach, MMC focuses on practical training and career readiness. The college supports international students with specialized resources and flexible learning options across its multiple Australian campuses, helping them develop the skills needed for successful careers.
- DGen Academy: This institution addresses the digital skills gap with courses in digital marketing and automation. Programs like LinkedIn Outreach Machine and Sales Funnel with Automation aim to empower individuals in the digital space, promoting entrepreneurship and career growth. DGen Academy offers structured learning paths, internships, and guaranteed income opportunities to equip learners with practical skills for the global market.
Though all of these companies are Australian-based, NeXgen Global’s goal is to boost economic growth in Bangladesh by reducing the skill gap. They are making significant progress through its targeted educational initiatives. It is making significant progress in bridging the skills gap in Bangladesh, preparing individuals for successful careers both locally and internationally. These efforts not only contribute to Bangladesh workforce development but also create economic growth Bangladesh by creating a more skilled and competent workforce.
Role in Economic Advancement in Bangladesh
Current Economic Landscape
Bangladesh has made impressive strides since 1971, transforming from one of the poorest nations into a lower-middle-income country by 2015. By 2023, the nominal GDP had reached USD 431 billion. GDP growth slowed to 5.8% in FY23 from 7.1% the previous year, with FY24 projections at 5.6%. Inflation remains high, averaging 9.02% as of June 2023, and foreign exchange reserves have decreased from USD 41.8 billion in June 2022 to USD 23.06 billion by August 2023.
The economy is grappling with structural issues such as inadequate infrastructure, political instability, and corruption. External factors, including the Ukraine-Russia conflict, have compounded these challenges. Despite measures like increased interest rates and improved governance, inflation persists, and both the trade and current account deficits are significant. The IMF has proposed a US$4.5 billion loan to support fiscal reform and climate resilience. To achieve upper middle-income status by 2031, Bangladesh needs substantial improvements in job creation, infrastructure, and the investment climate.
NeXgen Global group is helping boost economic growth Bangladesh and skill development in Bangladesh by addressing key challenges and improving infrastructure. Through its sister companies, AiBotics Digital and Global Talent Connect, NeXgen Global supports local and international businesses with digital marketing, helping them thrive despite economic difficulties. At the same time, Global Talent Connect links Bangladeshi professionals with international job opportunities, enhancing their careers and bringing in valuable foreign remittances. These efforts tackle infrastructure issues and promote sustainable economic growth, supporting Bangladesh’s goal of becoming an upper middle-income country.
Utilizing Digital Intelligence for Growth
Using digital intelligence is key for business success and economic growth Bangladesh for the modern world. NeXgen Global, through its AiBotics Digital division, leads this change by offering tailored digital marketing services to Global businesses. AiBotics Digital helps these businesses improve their online presence, attract new customers, and grow, making the local & international market more competitive and supporting broader economic development. They employ skilled manpower from Bangladesh, giving local talent the chance to engage with the international market, enhance their skills, and earn money. This initiative also expands opportunities for freelancers, contributing to a larger, more dynamic market.
AiBotics Digital is known worldwide for its expertise in social media marketing, content marketing, PPC & Google Ads, SEO and Software Development Services . Their focused campaigns enhance online visibility and customer engagement. They also provide branding and website solutions to improve user experience and drive sales. With a proven record of working with over 50 successful brands and generating $56 million in revenue for clients, AiBotics Digital makes a significant impact both locally and globally.
Connecting Talent with Global Opportunities
NeXgen Global’s recruitment division, Global Talent Connect supports this by connecting Bangladeshi professionals with international job opportunities. Through a wide network and advanced recruitment strategies, Global Talent Connect helps individuals advance their careers and facilitates knowledge exchange. This not only boosts Bangladesh’s economy but also attracts valuable foreign remittances. By addressing skill shortages in places like Australia and Fiji, Global Talent Connect helps skilled Bangladeshi professionals find important roles abroad. These roles include sectors like SKR, community service, cooking, kitchen management, building and construction, and hospitality. This benefits both the local and global markets.
Together, AiBotics Digital and Global Talent Connect embody NeXgen Global’s commitment to advancing Bangladesh’s economy. Through innovative digital solutions and strategic global recruitment, they drive sustainable growth and success for businesses and professionals alike. NeXgen Global’s education initiatives focus on providing people with the skills they need to succeed in the global market. Also, NeXgen Global job creation boosts the region’s economy.
NeXgen Global’s Long-Term Vision
NeXgen Global’s long-term vision for boosting Bangladesh’s economy is all about creating a workforce that’s ready for the future and capable of meeting global market demands. It aims to close the significant skills gap in the country by focusing on comprehensive vocational and digital training. The idea is to align educational programs with what industries need, making sure that both today’s and tomorrow’s Bangladeshi professionals have the skills they need to succeed in a competitive, digital world. This approach not only prepares people for local job markets but also enhances their chances of securing opportunities internationally, driving sustainable economic growth Bangladesh.
To bring this vision to life, NeXgen Global Group works with partners like Skills Australia, Dgen Academy, and Langford English College to offer specialized training that meets the changing needs of the workforce.NeXgen Global’s current programs and outstanding training in digital marketing, IT, and practical skills assist to position Bangladesh as a hub for highly trained personnel. This focus on high-quality education and practical training supports the country’s aim to reach upper-middle-income status by 2031 and promotes a culture of ongoing learning and innovation.
NeXgen Global’s focus on digital intelligence and international recruitment through AiBotics Digital and Global Talent Connect is crucial for driving Bangladesh’s economic growth.These divisions help to promote the economy and bring in significant foreign remittances by improving local businesses’ digital visibility and connecting Bangladeshi professionals with global prospects. This comprehensive approach tackles current skill shortages and builds a strong foundation for long-term economic stability and growth, showing NeXgen Global’s commitment to reshaping Bangladesh’s economic future through effective skill development.
Skill development in Bangladesh is key to our economic growth and success. As the country works towards becoming an upper-middle-income nation by 2031, improving the skills of its workforce is crucial. The mismatch between job market needs and available skills is a challenge but also an opportunity for growth. By focusing on skill development, individuals in Bangladesh can find better job opportunities, advance their careers, and help boost the nation’s economy.
NeXgen Global Group is playing a vital role in closing this skills gap. Through its various programs and sister organisations, NeXgen Global offers training and education that meet both local and global needs. They provide vocational training, digital marketing expertise, and international career opportunities to help people succeed in today’s competitive world.
To learn more or start improving your skills, visit NeXgen Global’s official website or contact their sister concerns. Take the first step towards a brighter future with NeXgen Global Group.
Hemi Hossain, the founder of NeXgen Global Group, dreams of a sustainable Bangladesh. Through his institute, he aims for the economic growth of the country, where everyone is properly skilled. His vision includes reducing the global skills shortage by sourcing and training talent from across the globe, ensuring they are sufficiently qualified and employed.