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ED: A partnership for entrepreneurship

  • Published at 02:47 am February 9th, 2021
south korea bangladesh
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South Korea is no doubt the kind of partner we need in this journey

South Korea is seen as a model of economic development around the world. After being devastated by war in the middle of the 20th century, the East Asian nation has managed to not only pick up the pieces, but become a global economic powerhouse. 

South Koreans enjoy not only a very high standard of living, but great personal freedoms, and an environment conducive to entrepreneurship and growth. These are all things that Bangladesh has long aspired to. We have, in the past 15 years or so, made great progress in a number of areas, and yet, in a few key areas, we are constantly held back from reaching our potential.

It is wonderful, then, to see the government of South Korea, through the Korea International Cooperation Agency, supporting Bangladesh with $21 million, in order to boost entrepreneurship development, intelligent transport systems, and safer cyberspace to achieve the goal of a Digital Bangladesh. 

These are all areas in which South Korea has long excelled. It would be naïve, of course, to expect that Bangladesh will reach Korean levels of success in these areas any time soon, but we should at least take South Korea as a role model, and aspire to those goals.

While in the past decade, the private sector has been the engine of Bangladesh’s economic growth, sadly, we have not done enough to unleash the power of entrepreneurship fully in this country.

Much untapped potential exists, and the need of the hour is to simply let entrepreneurship thrive by removing all the roadblocks that stand in their way. The right partnerships will help us eradicate these barriers and move forward smartly. South Korea is no doubt the kind of partner we need in this journey.