Vision
ICE Business Times is a monthly business publication which aims to analyze, interpret and disseminate news of local as well as global financial, commercial and industrial developments to its readers. By making its readers aware of the business climate in Bangladesh, the magazine aims to play a vital role in both the media and business sectors on a global scenario.
Mission
The magazine strives to provide economic news and present views and opinions of well-regarded business figures, and market trends. To do so, enlightening them regarding local industry and overseas market growth as well as policy research and advocacy is important. At any time, and in every case unbiased, factual and balanced reporting will be the magazine’s aim and policy as it, along with its readers follow the country’s progress towards prosperity.
Towards a Knowledge-based Economy
The dawn of the industrial revolution marked a crucial transition point for our history as it ushered changes in the lifestyle and wellbeing of mankind. In the current digital age, civilizations are in the midst of another equally significant time of evolution as they are adapting knowledge-based economies as an integral part of sustainable development.
To remain competitive on the international platform, nations are generating workforces that are exceedingly educated, highly motivated and productive. Information, the future source of prosperity will transform educational institutes with advanced curriculums geared to create human resources that are rich with intellectual capital.
Singapore is a prime example of this phenomenon, providing a suitable model of success which developing nations like ours can follow. Today, Singapore holds global leadership positions in areas of manufacturing such as electronics and petrochemicals. The country’s labor force has been ranked No.1 in the world over the last 30 years. They have achieved this through their vast network of training and scholarship programs which are frequently developed by collaborations between the public sector and private enterprises.
Bangladesh has also climbed the developmental ladder using its abundant human dividend and robust private sector. However, now it is poised to take up this developmental mantle whereby companies who mine data, instead of oil or gold, will drive further development. The UN’s Sustainable Development Goals have set enterprising agendas for progress. In this regard, it will be necessary for all stakeholders to work in coordination.
A workforce that can harvest sustainable solutions through data-driven platforms will be instrumental in enhancing the growth figures we have achieved. Nevertheless, this does not mean that we need more MBA holders in the country. We need people who can utilize their intellectual capital while working with government entities, civil society groups, companies, international organizations and expert networks to ensure sustainability by implementing a tech-based framework.
According to the World Bank, the four pillars of a knowledge-based economy are: institutional structures that provide entrepreneurs with the right incentives; the availability of skilled labor and proper education systems; adequate ICT infrastructure; and, a landscape that can facilitate innovation through academia, the private sector and the civil society. Bangladesh must strive towards these endeavors for prosperity.
The ideology of creating a knowledge-based economy cannot be applied overnight. Bangladesh’s path to becoming a developed country by 2050 will be fraught with challenges. In this regard, the next economic evolution holds great promise for us. Without the right initiative, innovations, infrastructure, and skilled human resources; this promise could become a mirage.
