The Dhaka Chamber of Commerce & Industry (DCCI) and Institute of Business Administration (IBA), University of Dhaka will work together for business-oriented research and innovation.

A Memorandum of Cooperation (MoC) was signed between DCCI and IBA in this regard on Tuesday. DCCI President Rizwan Rahman and Director of IBA Prof Mohammad Abdul Momen signed the deed document on behalf of their respective sides.

Rizwan said that as per the agreement, mutually agreed training courses will be arranged for DCCI. Both DCCI and IBA will conduct sector wise business research activities, job fair, seminars, workshop, and business conference. DCCI will provide internship opportunities for the students of IBA.

Also read: Challenges of 4IR: DCCI, BUET ink MoC

He said skill development is the priority area for the government as well as for the private sector because in order to compete with the global standard, we must have better skills in every sector.

He called for extensive research and development works under the universities so that they can contribute to the development nation’s economy.

Director of IBA, Prof. Momen said that there should have a greater collaboration between industry and academia.

“To cope up with the changing global geo-political and technological transformation we have to be competitive in terms of skills and education,” he added.

Also read: DCCI plans investment summit in Singapore this year

He cited a few examples of some successful countries like USA, Germany, and Korea who are utilizing their universities for extensive wide ranging research and innovation activities.

The research facilities of our universities in Bangladesh are still unexplored and under-utilized. He invited the private sector to invest for expansion of university research in the country for the sake of industry development, Prof Momen said.