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Bangladesh is recognized globally for its remarkable track record of socioeconomic development and potential for becoming an economic powerhouse in the region. The economy has sustained impressive economic growth over the past three decades despite incidences of political conflict, natural calamities, and financial shocks. The country met the Millennium Development Goals ahead of time and reduced the poverty level substantially over the past decades. Progress in human development, education, and health has been equally impressive and produced a healthier and better-educated working population. More women are joining the workforce while gender gaps in pay are gradually narrowing. Moving forward, the country aspires to reach the stage of a developed economy in the next two decades.

Bangladesh needs to prepare its workforce for the emerging challenges for a dynamic economy in an increasingly globalized world. The economy is undergoing structural changes on several fronts. First, Bangladesh has transitioned from a largely traditional, agriculture-based economy to an industry and service-driven economy. Industry sector has been the main driving force for economic growth. Second, more recently, technological progress is rapidly changing the production and service modality. Firms need to not only constantly adjust their business and production modality with these technological changes but also have highly skilled manpower who can enable such change processes. Third, a growing and youthful workforce in Bangladesh provides a window of opportunity to improve productivity and accelerate economic growth. Equipping the young generation with the skills needed for jobs remains crucial. On one hand, employers are demanding higher-skilled professionals for technical and managerial positions to support the growing industry and service sectors. On the other hand, tertiary education institutes (TEIs) are struggling to produce employable graduates for the job market. Unemployment rates are consistently high among tertiary graduates, causing prolonged and frustrating joblessness for many. At the same time, the culture and practice of collaborative research to promote industry competitiveness and innovation has been largely missing in the country's tertiary education landscape, undermining Bangladesh's competitiveness ranking in the global knowledge economy. There is urgent need to identify and address the challenges in the sector and orient tertiary education toward the demands of the economy and labor market to help realize Bangladesh's full economic development potential.

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The recognition of prior learning provides opportunities for workers to have their skills assessed and certified. In many countries, recognition of prior learning is expected to broaden individuals' empowerment and economic opportunities. Using a randomized control trial method, this impact evaluation study aims to assess whether and to what extent assessment and certification of prior learning effectively improve economic and other job outcomes among assessment participants in Bangladesh. Five hundred applicants were randomly assigned to the treatment group and 500 applicants to the control group. The baseline survey took place in June 2018 and the end-line survey in January 2019.

The findings indicate that assessment [of] prior learning positively impacts workers' employment outcomes and quality of employment, including the chance of getting employed, wage levels, formality of employment, and workers' confidence in their skills and jobs. The findings also suggest that women may benefit more than men from certificates of recognition of prior learning in Bangladesh. The transition analysis further supports the finding that recognition of prior learning facilitates the transition of unemployed or not-working workers into employment. Recognition of prior learning also increases the chances of finding work through formal job search channels and at formal and larger private companies. These findings align with the assumption and expectation behind the recognition of prior learning programs in the context of economic development. The participants in assessments and certification of prior learning had overwhelmingly positive opinions about them. The study has some limitations and suggestions for future research.

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Building a skilled and diverse science, technology, engineering, and mathematics (STEM) workforce is crucial for economic development, cross-border trade, and social inclusion in South Asia. However, underrepresentation of girls and women in STEM education and careers remains a persistent issue. What kinds of macro and micro socioeconomic interventions are needed to increase girls' and women's access to and participation in STEM education and careers in South Asia? This report compares trends in South Asia with global trends to examine how access to and choices of STEM fields affect girls' enrollment in upper secondary education, technical and vocational education and training, and higher education in the region as well as their selection of careers. Based on the analysis, it offers recommendations to policy makers and practitioners to improve inclusion.

The following are among the findings: (1) the five key opportunities to foster inclusion and enrollment in STEM education - and staunch the 'leaky pipeline' - are at the upper primary, lower and upper secondary, and tertiary education levels, and during the early career years; (2) a strong pathway from STEM education to career depends on an integrated, systematic approach that motivates students to pursue STEM fields, builds STEM skills, and removes barriers to diversity; and (3) with the increasing migration of workers between countries in South Asia, preparing a critical mass of semiskilled and skilled STEM migrant workers has cross-border value, especially for workers migrating from smaller to larger economies.

New ways of defining STEM occupations are required to help develop and sustain female interest in STEM education and careers. Potential strategies that governments can pursue include raising awareness and building knowledge and skills in STEM outside the formal academic environment, such as in after-school programs, science fairs and competitions, and summer camps, and developing and systematically disseminating standardized resources. Inclusion and diversity must be championed by governments, the private sector, and other stakeholders who stand to benefit from more diverse workforces. Though women themselves would likely be credible champions, in South Asia they are often constrained by a range of factors. This report addresses some of those obstacles.

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