Driving economic growth through freelancing

The government has embarked on a sweeping initiative aimed at equipping job-seeking youth with essential computer skills, with a particular emphasis on freelancing as a pathway to self-reliance and foreign exchange earnings.

Kazi Moklesur Rahman, joint secretary (planning and development) of the Ministry of Youth and Sports, told the Daily Sun that a project titled “Employment Creation through Freelancing Training for Educated Job-Seeking Youth” is currently underway in 16 districts across the country, aiming to train 6,500 youth as freelancers.

“To date, 1,920 individuals have been trained, resulting in $1 million in foreign currency from those who have completed the training.

In response to the growing demand, a new project titled “Employment creation project through freelancing training of educated job-seeking youth in 48 districts of the country” is being initiated to provide training in the remaining 48 districts, he mentioned.

The eligibility criteria for selected trainees include being HSC pass and aged between 18 to 35 years, Rahman said, adding that preference will be given to individuals who are not employed or not enrolled in other training programs.

"We will train 50 individuals in each district, divided into two batches over a span of three months. Our emphasis will be on increasing female participation in freelancing. The primary objective is to foster self-sufficiency among trainees, who will receive instruction in digital marketing, web design, graphic design, and other contemporary subjects," he informed.

The project proposal titled “Employment creation project through freelancing training of educated job-seeking youth in 48 districts of the country” will be placed in the Executive Committee of the National Economic Council (ECNEC) meeting today, an official of the Planning Commission told the Daily Sun.

The government has initiated a comprehensive employment creation project designed at empowering educated youth across 48 districts of the country, he added.

If approved, the project will be implemented from January 2024 to December 2026 by the Directorate of Youth Development with an estimated cost of Tk299.19 crore, he mentioned.

The project’s primary objectives include providing essential computer training for freelancing opportunities, fostering self-reliance among youth, and generating foreign exchange through freelancing endeavors.

Through the initiative, 28,800 representatives of the youth society will receive training in computer applications, financing, basic English, and digital marketing.

IMED’s evaluation highlights that nearly 99% of the project’s expenses will be allocated to training, emphasising its focus on skill development and empowerment.

The project aligns with the government’s vision to address unemployment challenges and cultivate a skilled workforce prepared for the digital economy.

As the project moves forward, it promises to unlock opportunities for employment, foster self-sufficiency, and contribute to the country’s foreign exchange reserves.

This initiative underscores the government’s proactive approach to addressing youth unemployment and harnessing the potential of freelancing as a viable avenue for economic prosperity.

State Minister for Information and Communication Technology (ICT), Junaid Ahmed Palak, mentioned that Bangladesh has 650,000 freelancers generating $1 billion in annual income.

Tanjiba Rahman, chairman of Bangladesh Freelancer Development Society, emphasized the need to increase female participation in freelancing and highlighted Bangladesh’s growing position in the freelancing market.

Palak emphasised the government’s commitment to creating a skilled workforce for the fourth industrial revolution, mentioning various training initiatives and specialized labs set up in universities.

As the government intensifies efforts to empower youth through freelancing training, it aims to strengthen Bangladesh’s position in the global freelancing market and promote economic prosperity, he added.

Ali Reza Iftekhar, managing director and the CEO of Eastern Bank Limited, emphasised the vast potential of freelancing as an industry, highlighting its ability to thrive without significant initial investments.

He mentioned that freelancing is projected to evolve into a $10 billion industry by 2026.

Moreover, Iftekhar noted that EBL is among the pioneering banks to introduce a specialized product tailored for freelancers.