Sri Lanka gets Korean vocational training support to meet skilled labour demand
ECONOMYNEXT – South Korea’s Eximbank is supporting the setting up of two vocational training institutes in Sri Lanka to help the island bridge the gap between industry skills demand and labour supply.
The two vocational training institutes are to be set up in Colombo Central and at the College of Technology in Gampaha, the Korean embassy said in a statement.
“As Sri Lanka aspires to become an upper middle-income country, it will need to bridge the gap between industry skills demand and labour supply,” it said.
“An important initiative that can help bridge this gap is to expand the physical infrastructure of the vocational training institutes and to improve the quality of Technical and Vocational Education and Training (TVET) programmes and teacher capacities in Sri Lanka.”
The project includes constructing and developing the institutes, providing them with equipment and facilities, and conducting capacity building for vocational training instructors and policymakers.
Korea will provide further technical assistance and consulting services by dispatching Korean experts to Sri Lanka.
“Through the successful completion of this project, it is anticipated to reduce the unemployment rate of youth in Sri Lanka and to improve the satisfaction level of the industrial sectors who hire graduates from these institutes,” the statement said.
Stressing the importance of the TVET sector to the overall economic development of the country, Korean Ambassador Chang Won-sam said the government of the Republic of Korea will continue to share Korea’s development experience and knowledge in the TVET sector through continued development programmes in Sri Lanka.
(COLOMBO, Nov 22, 2016)