It is good to note that Bangladeshis sent $6,154.22 million remittances in the first four months of the current fiscal 2019-20, which is 20.48 percent higher than that of the corresponding period of the preceding year.
Remittance inflow to the country is touching new heights every passing year notwithstanding multifarious limitations and challenges. As a consequence of the government’s various initiatives coupled with oil price hike in the middle-eastern countries and the rise of Taka against Dollar, the tempo of the country’s remittance inflow has remarkably progressed over the last years. Moreover, expat workers’ hard-earned money, sent through proper channels, immensely contributed to the increased inflow.
It is envisaged that Bangladesh has a lucrative prospect of earning $100 billion remittance in a year exporting skilled workforces abroad. In FY 2018-19, Bangladesh received a record $16.4 billion remittance from about 12 million overseas workers. We are told that with the same number of people working abroad, the remittances can be over $100 billion, if only this young population is trained in new technologies.
We must ensure proper training
for foreign jobseekers before
sending them abroad
Remittance is perceived to be a driving force for fostering a country’s economic growth. Apart from reducing poverty remittance helps us to start new jobs and organizations by providing capital. But it is dissatisfying to note that larger portion of the remittance comes only from ten countries; hence, more stress on finding new work destinations should be given in no time. In this regard, we need to encourage more European countries to take our workers. And in order to do that, we must ensure that they are skilled and have basic knowledge about foreign languages as well as adaptation abilities. Also we must ensure proper training for foreign jobseekers before sending them abroad.
Hence, emphasis should be given on the need for grooming and employing skilled hands and diligent personnel in abroad. Authorities concerned should therefore open more vocational training centres and invest more in the education sector. Also there is a need to facilitate the banking system for migrant workers so that they can easily send home their hard-earned money.