The Asian Development Bank (ADB) has approved a 60-million-USD loan for Cambodia to help the country boost the skills and competitiveness of its labour force (Illustrative photo: aecnewstoday.com))
 
Hanoi (VNA) - The Asian Development Bank (ADB) has approved a 60-million-USD loan for Cambodia to help the country boost the skills and competitiveness of its labour force, according to Xinhua news agency.

The Chinese news agency quoted a press release of the bank on June 25 as saying that the loan aims to help Cambodia diversify and modernize its industrial sector by upgrading the facilities and equipment of selected technical training institutes (TTIs) around the country, improving the curriculum and skills of TTI trainers, and forging stronger ties with the government and business community to meet the needs of the labor market.

The release said the Skills for Competitiveness Project will help produce 18,000 qualified technicians, 28 percent of whom are women, with higher employability and technical skills in four priority sectors, namely manufacturing, construction, electricity, and electronics.

Cambodia is ranked 110th out of 140 economies in the 2018 Global Competitiveness Report, based on business reporting on the difficulty of finding highly skilled employees to fill technical roles, the ADB said.

"Having a highly skilled labor force is essential for a country like Cambodia, which has a fast-growing economy and an expanding workforce," ADB Education Specialist for Southeast Asia Yumiko Yamakawa was quoted as saying.

According to the specialist, the ADB loan will focus on improving the skills of workers employed in high-growth sectors to fuel the country's development, and the bank will make sure that all stakeholders, especially the government and the private sector, are working together to boost worker skills.-VNA