Phnom Penh (FN), Aug. 1 – The Asian Development Bank (ADB) has approved a $100 million loan to help boost the caliber of Cambodia’s labor force by addressing skills gaps and shortages. This will be done through reforms and investments in technical and vocational education and training (TVET) combined with private sector participation.

“Three key challenges contribute to the broader constraints facing Cambodia’s TVET system: the lack of a focused and comprehensive skills development program for the fourth industrial revolution, limited private sector roles in skills development and the transformational vision of industries, and inadequate financing and partnerships in skills development. Combined, these challenges limit the employability and productivity of current and future labor forces and may prevent post-pandemic Cambodia from diversifying and transforming into a knowledge-based economy. The Skills for Future Economy Program will help address these challenges”.

Read full: https://www.adb.org/news/100-million-adb-loan-boost-labor-force-competitiveness-cambodia
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