Experts urge private sectors to explore university research facilities for business development

The research facilities of universities in Bangladesh are still unexplored and under-utilised and the private sector needs to invest more in the expansion of university research for the sake of industrial development in the country.

"There should have been a greater collaboration between industry and academia because we have to be competitive in terms of skills and education to cope with the changing global geo-political and technological transformation," said Institute of Business Administration (IBA) Director Prof Mohammad Abdul Momen at a memorandum of cooperation signing ceremony on Tuesday.

The agreement has been signed between the Dhaka Chamber of Commerce and Industry (DCCI) and IBA, University of Dhaka. DCCI President Rizwan Rahman and Prof Mohammad Abdul Momen signed the document on behalf of their respective organisations.

Under the agreement, mutually agreed training courses will be arranged for DCCI. Moreover, both DCCI and IBA will conduct sector-wise business research activities, job fairs, seminars, workshops, and business conferences. DCCI will provide internship opportunities for the students of IBA.

Prof Abdul Momen cited a few examples of some successful countries like the USA, Germany and Korea who are utilising their universities for extensive wide-ranging research and innovation activities.

DCCI President Rizwan Rahman said it is time to bridge the gap between industry and academia in this era of rapid industrialisation.

Underscoring need-based curriculum as per the demand of the industry, he also said, "Skill development is the priority area for the government as well as for the private sector because we must have better skills in every sector to compete with the global standard."

The business leader has also urged for extensive research and development works under the universities so that they can contribute to the development of the country's economy.

DCCI Senior Vice President NKA Mobin, Vice President Monowar Hossain and Director Golam Zilani were also present on the occasion.