Top 5 jobs in post-LDC Bangladesh

Zarif Rahman is a college student, standing at the crossroads of his life - he has to choose his undergraduate degree. However, he is confused, as there has been a growing discourse about traditional jobs losing their relevance after Bangladesh's Least Developed Country (LDC) graduation. Zarif wants to decide his future, assured that after Bangladesh's LDC graduation, the job he will be pursuing will not be obsolete.

Zarif is not alone here. The question has been floating in the air for a few years. Bangladesh is set to graduate from its status as a LDC in November 2026, which poses both challenges and opportunities for its job market. While significant shifts might not be evident immediately, the long-term consequences could be multifaceted.

On one hand, graduating from LDC status typically entails losing trade benefits like duty-free access, particularly the RMG sector, which could lead to reduced competitiveness and potential job losses in some more traditional sectors.

However, LDC graduation also opens doors for new avenues. Increased foreign investment attracted by the country's development achievements could create jobs in new sectors like technology and information technology (IT).

So, what may be the top 5 jobs in post-LDC Bangladesh? The Business Standard has shortlisted 5 jobs based on research and expert opinions from industry leaders and academia.

Industrial Engineer and Technician 

One of the sectors that is likely to see a boom after LDC graduation is manufacturing. LDC graduation is expected to attract more foreign direct investment (FDI) due to perceived improvements in economic stability and growth potential. This can lead to the expansion of existing manufacturing facilities and the establishment of new ones.

To compete in the global market after LDC graduation, Bangladeshi manufacturers will likely need to adopt newer technologies and automation to improve efficiency and productivity. This is where the demand for industrial engineers and high-skilled technicians will increase. And with the increased demand and a limited pool of skilled professionals, wages are likely to rise, improving their standard of living and making the job attractive to young talents.

Faruque Hassan, the President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), highlighted the need for skilled industrial engineers and technicians in the post-LDC Bangladesh job sector.

"In post-LDC Bangladesh, we will see a boom in industrialisation as new sectors will emerge. So, we will need more industrial engineers who are experts in designing energy-efficient, cutting-edge and safe set-ups. They will need to figure out how to increase productivity and efficiency."

"At the same time, we will need more skilled technicians in the future to help us run the factories more smoothly," he added, "There was a time when people did not want to be mechanics. To some extent, the problem still exists. However, a skilled mechanic can earn a very good income; and the prospects are on the rise."

"When we need high-skilled technicians, we have to hire Vietnamese or Japanese professionals. This is because our students and professionals lack the necessary level of skills for these jobs. If our young professionals can acquire such skills, their future will undoubtedly be bright."

- Tasmiah T Rahman, Associate Director of the Brac Skill Development Program

Dr Sayema Haque Bidisha, professor of Economics at the University of Dhaka and Research Director at the South Asian Network on Economic Modeling (SANEM), said there will be an increase in automation in production and manufacturing.

"We may see that after LDC graduation there is a shift from labour-intensive production to automated production. Then, there will be a huge demand for industrial engineers and software developers."

Tasmiah T Rahman, associate director of the Brac Skill Development Program, also sees prospects in this sector after LDC graduation.

"When we need high-skilled technicians, we have to hire Vietnamese or Japanese professionals. This is because our students and professionals lack the necessary level of skills for these jobs. If our young professionals can acquire such skills, their future will undoubtedly be bright, as the demand for their skills will surely increase in post-LDC Bangladesh," she said.

Industrial and Production Engineering (IPE) is offered in most engineering universities in Bangladesh. Recently, BGMEA University of Fashion and Technology has also begun to offer Industrial Engineering degrees.

Fashion Designer

To remain competitive in a tougher business climate after graduation, RMG exporters will have to move beyond basic garments; crafting designer wear, niche apparel and technical clothing for premium prices.

The RMG industry is valued at around 45 billion dollars, second only to China. However, its primary challenge lies in the lack of domestic design in clothing production. The industry's future strategies are centred around achieving a global distribution of garments bearing the label 'Designed in Bangladesh'.

To do that, manufacturers need to integrate sustainability and ethical practices to attract conscious buyers and command ethical premiums. They also have to leverage Bangladesh's rich textile traditions and craftsmanship for unique and differentiated designs.

Developing distinct and recognisable brands that resonate with target audiences, thus building brand loyalty, can only be achieved with innovative and creative fashion designers who can embrace digital design tools to accelerate design processes, improve efficiency and experiment with 3D printing and other advanced technologies to create innovative and unique garment designs. They need to highlight the human element behind the garments, build emotional connections and justify the premium pricing.

Faruque Hassan stresses the necessity of creating innovative designs to ensure greater market penetration.

"Our RMG sector will need many fashion designers in the future to create innovative designs for our products. Ambitious young students can pursue higher studies in fashion designing as the demand for fashion designers will continue to grow."

Pharmacist

Bangladesh's pharmaceutical industry has the potential for significant growth after graduating from LDC status in 2026. It is currently one of the most technologically advanced sectors in Bangladesh. It has grown in the last two decades at a considerable rate.

Mahbubul Alam, the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), believes that the pharmaceuticals industry will be one of the main drivers of Bangladesh's export growth after 2026.

"Our exports will greatly benefit from the pharmaceutical industries after our LDC graduation. It will greatly bolster our export diversification."

However, there is a catch. Bangladesh's graduation from Least Developed Country (LDC) status may threaten to impede the growth of the generic pharmaceutical business due to strict Intellectual Property (IP) rules, as the industry has been a significant beneficiary of the patent waiver designated for LDCs.

Local medicine manufacturers, who supply 98% of domestic demand worth Tk 20 billion per year, must focus on growing research and development to improve their creation of novel compounds. After 2026, domestic pharmaceutical enterprises must adhere to patent guidelines when developing drugs.

To avert the situation, pharmacists will play a vital role, as the importance of research and development in the pharmaceutical industry will increase. Currently, only a small percentage of revenue is dedicated to R&D in Bangladesh's pharmaceutical industry. Increasing investment and fostering collaboration with universities and research institutions can help develop novel drugs and technologies, creating a competitive edge.

Dr Bidisha opined that focusing on research and development in the pharmaceutical industries is the key to ensuring growth in this sector.

"We need to secure patents for our own medicines and drugs. At the same time, we can export non-traditional medicines like herbal medicines to the West, as that demand is growing. As the sector will focus more on research, the scope and opportunities for pharmacists will increase manifold."

Software Developer

Bangladesh is fast becoming the IT hub of South Asia. Bangladeshi IT service exporters earned $548 million in FY23, which was $592 million in the previous fiscal year. Bangladesh has also emerged as a leader in software development growth, with the country seeing the highest growth in software developer numbers in 2023.

To remain competitive after LDC graduation, Bangladesh will have to prioritise technological advancements and digital transformation across various sectors like government, finance, agriculture and healthcare. This will require skilled software developers to build and maintain these digital systems.

E-commerce and online businesses are expected to grow significantly, requiring developers for web development, mobile app development and e-commerce platforms.

LDC graduation is expected to make Bangladesh more attractive to foreign investors seeking new markets and production bases. This will likely lead to the establishment of new IT and software development companies, creating job opportunities for developers.

Increased trade with developed countries in post-LDC Bangladesh will lead to a demand for software solutions that facilitate international business operations, logistics and communication. The supply chain management software will be in demand to track goods and materials across borders.

Tasmiah T Rahman advises young developers to learn niche skills in areas like cloud computing, artificial intelligence and cybersecurity.

"In the coming days, if you have the expert knowledge and the required skill sets in niche IT fields, you will have no shortage of jobs."

Environmental Scientist

While Bangladesh's LDC graduation might not directly create a sudden surge in demand for environmental scientists, it can act as a catalyst for several developments that will increase the need for their expertise in the long run.

After graduating from LDC status, Bangladesh will likely face greater pressure to adhere to international environmental regulations and standards. This will require expertise in environmental impact assessment, pollution control and resource management, all areas where environmental scientists can play a crucial role.

Faruque Hassan is also of the opinion that Bangladesh will need more environmental scientists in the future.

"We will need to adhere to more environmental compliance once we complete LDC graduation. So, we are going to need experts in this field."

Recognising its vulnerability to climate change, Bangladesh will have to prioritise sustainable development strategies. This could encompass initiatives like renewable energy development, climate-resilient agriculture and disaster risk management. Environmental scientists would be vital for planning, implementing and monitoring these projects.

Tasmiah Rahman thinks that in the coming days, there will be no shortage of jobs for environmental scientists and climate experts.

"Going forward, environment-related jobs will be quite prominent. So, I believe that anyone who has studied in this field will not have to worry about getting a job."

The success of navigating changes after LDC graduation hinges on proactive measures. Apart from the abovementioned fields, there will be numerous other options for skilled individuals. So, upskilling and reskilling will be crucial. Young students and professionals should start pursuing higher studies in these fields to prepare themselves for the change.