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Building the Skills for Economic Growth and Competitiveness by Halil Dundar,Benoît Millot,Yevgeniya Savchenko,Harsha

By Halil Dundar,Benoît Millot,Yevgeniya Savchenko,Harsha Aturupane,Tilkaratne A. Piyasiri

regardless of armed inner clash and the worldwide monetary obstacle, Sri Lanka has made awesome development in recent times, having fun with fit financial progress and considerably decreasing poverty. furthermore, Sri Lankans are the best-educated humans in South Asia, with common entry and excessive crowning glory premiums in fundamental and secondary schooling. financial progress and structural adjustments within the financial system, despite the fact that, make talents improvement valuable as Sri Lanka implements its planthe Mahinda Chintana (MC)to turn into a neighborhood hub in strategic financial components. . but abilities shortages and mismatches are common, and corporations with undereducated staff and a scarcity of expert exertions are much less efficient. a good talents improvement procedure may help diversify the financial system; increase hard work productiveness and competitiveness; supply the rustic the pliability it must compete successfully within the international economic climate; and additional lessen poverty.

As Sri Lanka strikes from a factor-driven to an efficiency-driven economic system, its team is shrinking while call for for skillsespecially subtle skillsis emerging. regrettably, Sri Lanka has been gradual to extend technical and vocational schooling and coaching (TVET) and tertiary schooling. accountability for TVET is fragmented; the approach is supply-driven; there's a scarcity of trustworthy info on exertions marketplace talents call for and provide; employers are sidelined; and the assets invested will not be associated with functionality.

The MC acknowledges the severity of the abilities constraint and highlights the significance of making an investment in crew abilities to elevate either productiveness and competitiveness. This record analyzes talents call for and provide in Sri Lanka and scrutinizes how talents are shaped, the standards shaping abilities call for, and the responsiveness of the process. eventually, it deals feedback for the way talents improvement might be more suitable in order that Sri Lanka can meet its fiscal development and poverty relief goals.

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