BD, Korea sign three deals mainly on skills development

Bangladesh and South Korea signed here on Sunday three key agreements on developing skilled workforce and ensuring an advanced road infrastructure and management system in Bangladesh, said a press release.

The deals - one grant agreement and two MoUs (memorandum of understanding) - were signed at the Economic Relations Division (ERD), marking the official visit of Korean Prime Minister Lee Nak Yon to Bangladesh, according to a press release.

The grant agreement was signed among the Ministry of Expatriates Welfare and Overseas Employment, Korea International Cooperation Agency (KOICA) and ERD for a project titled 'Better Employment with Competency-based Skills Training (BEST)'.

The project, involving US$ 8.5 million grant in collaboration with $18 million contribution from SEIP (Skills for Employment Investment Program), is to support improving vocational training quality to build a skilled and market-oriented workforce for economic prosperity of Bangladesh.

Mr. Ebne Alam Hasan, Chief Engineer of Roads and Highways Division (RHD) and Dr. Jaeshin Park, Vice President of KOICA, signed the first MoU for the development of Highways Safety, Capacity Building for RHD officials, and introducing Intelligent Transport Systems (ITS) that is expected to reduce traffic congestion on the highways.

It also includes developing knowledge-sharing programmes and business projects for advanced road, transport and bridge design and construction, road safety management, Traffic Management System, operation of toll road etc.

The second MoU was signed among the Bureau of Manpower Employment and Training (BMET), KOICA and LG Electronics.

Mr. Md. Salim Reza, Director General of BMET, Mr. Dong Kon Son, Managing Director of LG Electronics, Bangladesh Branch, and Dr. Jaeshin Park, Vice President, KOICA, signed the agreement.

Under this collaboration, LG Electronics will establish the second LG Inverter Classroom in Chattogram along with equipment supply and installation, provide training to trainers at LG Asia Service Center in Singapore while KOICA will provide technical training support.

The key objective of this MoU is to establish a shared framework for collaboration among the parties to support developing demand-driven TVET for Bangladesh young generation to participate in the local and overseas job market, according to the press statement.

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