While Bangladesh faces many challenges in rapidly adapting to ongoing technological changes in the global production processes related to the Fourth Industrial Revolution (4IR), the human capital task is particularly intense given the present low levels of education and skill attainments of the labour force. This challenge in turn has substantial implications for developing the higher education, technology, science and research and innovation capabilities of Bangladesh as it prepares for its journey transit from a lower middle income country (LMIC) to Upper Middle Income Country (UMIC) and eventually to High Income Country (HIC) status.