<p>This paper critically examines the Higher Education Policy (Policy) of Bangladesh introduced in 2010, exploring its formulation process and early implementation challenges. Drawing on theoretical frameworks such as Human Capital Theory and the Linear Policy Model, it analyzes the interplay among state, society, and international influences on policy development. The study highlights the transformative potential of associated initiatives like the Higher Education Quality Enhancement Project (HEQEP) in reshaping research and education. Situating the analysis within global education policy discourse, it investigates how international organizations shape educational agendas and influence national decisions. Using Rawolle and Lingard's framework, the paper explores the cross-field effects of global education practices on national policies, emphasizing the role of standardized metrics in driving competitiveness. Furthermore, it evaluates the underlying motivations of the Policy, particularly its focus on economic growth and social mobility. By critically assessing the tensions between economic goals and societal equity, the study offers insights into the complexities of higher education policymaking in Bangladesh and its implications for global competitiveness.</p>