The World Bank has approved a US$40 million project to improve skills for better jobs in Cambodia. The project is expected to benefit approximately 33,000 Cambodians through enhanced training and labour market services.
The credit, approved by the World Bank’s Board of Executive Directors on Thursday, aims to enhance the quality and relevance of job-related skills among the country’s workforce and increase the employability and earnings of workers. The funding will support the Skills for Better Jobs Project, which aims to strengthen technical and vocational education and training, improve career guidance and job search support, and better engage employers when developing training programmes.
Cambodia’s economy and employment have grown rapidly in recent decades, with the country’s macroeconomic stability, openness to trade, and preferential access to Western markets helping to attract overseas investment. However, the quality of jobs is low: 89% of jobs in the country are low skilled and a large share are informal.
The five-year Skills for Better Jobs Project is designed to help Cambodia’s economy diversify into sectors that require more medium-skilled occupations. It will be implemented by the Ministry of Labour and Vocational Training and the Skills Development Fund.
"As Cambodia aims to move up value chains and diversify its production, upskilling its current and upcoming workforce will be key to attracting more and better foreign direct investment and responding to employer needs," said Ms. Maryam Salim, World Bank Country Manager for Cambodia.
"Technical skills training, when demand-responsive and supplemented with training in complementary skills, such as digital and behavioural skills, can support Cambodia in achieving its objectives," she said.
The key expected outcomes of this project are as follows:
1. Greater employer satisfaction with the skills of training-programme graduates.
2. An increase in the share of graduates who find jobs paying more than the national median wage.
3. An increase in the industry's voice in training design and delivery.
4. Facilitating dialogue and collaboration between training institutions and employers.
5. An improved labour market information system.
6. Increasing the number of individuals receiving job counselling and career guidance.
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