Universities in the country are failing to create new entrepreneurs, said Md Sirazul Islam, executive chairman of the Bangladesh Investment Development Authority (Bida).
The universities cannot produce skilled labour forces owing to the flawed and age-old education system, he told a programme in Chattogram Tuesday.
Sirazul Islam said, "People allege that we hire foreigners to run companies where the country has same quality manpower. But I do not agree with them."
He said that we ignore technical education while the developed world labels it as number one.
"We need to shake off such mentality. Otherwise our future will fall be uncertain," added Bida executive chairman.
The port city is ecologically important region, and therefore it needs more investment, he said, adding, "Chattogram will be a complete commercial hub in the future. This requires quick implementation of the ongoing development projects."