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President Lungu underscores human capital development, industrialisation
Posted on 9 November, 2017 16:47
President Edgar Lungu says human capital development is vital for Zambia’s lasting progress in national development, youth empowerment, equity, infrastructure development, poverty reduction and related national socio-economic goals. The President has since pledged government’s continued focus on skills development, science, technology and innovation to address human capital development to hasten industrialization.

Speaking during the official opening of the First Session of the Twelfth National Assembly, President Lungu added: “in the area of skills development, government will continue to invest in technical and vocational skills that promote self- employment, particularly among the youth. This will enable youths to fully and effectively participate in the economy.”

He stressed that government would continue with systematic infrastructure development for skills development to have at least one skills training centre in each district. “We must deliberately target those who have been to school and those who have not been. No one must be left behind. We must develop a policy to revive apprenticeship training and strengthen internship.”

Scholarly repertory on human capital shows that skills improve labour market outcomes both in terms of employment rates and earnings. The skills positive role extends beyond its impact on career prospects. For example, adults with high levels of foundation skills are much more likely to feel that they have a voice that can make a difference in social and political life. This scorecard is consistent across a wide range of countries, confirming that skills have a profound relationship with economic and social outcomes across a wide range of contexts and institutions. Skills are also significant in tackling inequality and promoting social mobility.

Investing in human capital is the single most effective way of not just promoting growth but also of distributing its benefits more fairly. Investing in skills is far less costly, in the long run, than paying the price of poorer health, lower incomes, unemployment and social exclusion – all of which are closely tied to lower skills.

The President added that the potential of the creative and recreation industry such as tourism, arts and culture, had not been fully exploited in relation to Zambia’s vast natural resources and good weather patterns.

In this regard, government has developed the film policy to guide the development of the film industry in Zambia, and was enhancing community and private sector involvement in the management of wildlife to promote wildlife conservation and protection with a view to ensure sustainable wildlife management that benefit both the government and the communities. “I am convinced that the future of our young people lies in their ability to interrogate, innovate and exploit smart technologies. We will thus continue to improve the teaching of science and mathematics, which is critical to attaining improvements in technology and innovation for enhanced industrialisation and job creation.”

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