Korea funds Sri Lanka vocational training facility for hi-tech industry
ECONOMYNEXT – Sri Lanka Wednesday opened a technical and vocational education facility in Colombo built with South Korean funds that in two years will produce 1,000 qualified youth with the skills to work in hi-technology sectors.
The ministry of industry, commerce, skills development and vocational training said the Korea-Sri Lanka National Vocational Training Institute (KSLNVTI) in Orugodawatte provides new technology training that will help fill growing skills shortages across a range of industries.
The facility becomes the only institution in Sri Lanka providing training on automation and robotics technology, pneumatic and hydraulic systems and CNC (Computer Numerical Control) programming used to control machine tools, a statement said.
The KSLNVTI has been completed at a cost of 17 million dollars in the first of a two stage 26 million dollars project which will also upgrade the Gampaha Technical College.
Funding for the project came as a loan from the Export-Import Bank of Korea, with additional support from Korea International Cooperation Agency and the Economic Development Cooperation Fund (EDCF) of Korea.
“We all know the strong relationship between vocational training, skills development and labour productivity of any country,” minister of industry, commerce, skills development and vocational training Rishad Bathiudeen said.
Sri Lanka’s service exports have been growing and diversifying with ICT/BPM, electronics, construction, engineering, printing and packaging, health and education being the key service exports.
“Of all these, three service exports – ICT/BPM, electronics, printing and packaging services – alone contributes to around 1.3 billion dollars in export revenues every year,” he said.
“Good skills training shall help this sector to grow as well.”
(COLOMBO, 21 August, 2019)