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Cambodia’s workforce has a low skills base, which is holding back e orts to diversify and modernize industries. Unless Cambodia turns this situation around, it won’t be able to move up the global value chain and increase its competitiveness. However, the current level of public technical and vocational education and training nancing is too low, and it’s also not responsive to the needs of the labor market.
ADB helped the Ministry of Economy and Finance pilot a skills development fund to foster engagement with industry and share some of the cost and technological and standards requirements. The project expands the pilot Skills Development Fund. The project is innovative because demand is industry-driven, which encourages joint nancing and training program preparation, and focuses on upskilling and reskilling current workers to build the skilled workforce of the future.
Find out more: Cambodia: Skills for Competitiveness Project Visit the project website: http://www.sdfcambodia.org/
“Having a highly skilled labor force is essential for a country like Cambodia, which has a fast-growing and structurally transforming economy and an expanding workforce. The ADB loan will focus on improving the skills of workers employed
in high-growth sectors to fuel the country’s development.
We are also making sure that all stakeholders, especially the government, especially training providers and the private sector, work together to boost workers’ skills.”
Sophea Mar
Senior Social Sector O cer, Cambodia Resident Mission
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