This paper analyses the efforts of the Bangladeshi government and the private sector in enhancing human resource development by giving education, training etc. to meet the challenges of increasing globalization. Three areas will be explored, namely, education, skills training and the role of the private sector in education and training. Knowledge and skills of the human resource will be the key competitive weapon in the 21st century; global trends in the 21st century and recommendations to accelerate human resource development will be discussed. The main areas of management skill development of human resources are general, personnel, management, IT, marketing and financial management. Skill developments in these are essential for industrial and overall development of Bangladesh.