Abstract:
Economic growth is increasingly driven by knowledge and no country can remain
competitive without applying knowledge. The knowledge economy provides
efficient ways to produce goods and services and deliver them more effectively, and
at lower costs, to a greater number of people. In addition to the danger of a growing
electrical and electronic gap there is also a growing knowledge divide. There are
striking disparities between formal and informal sector in their investment and
capacity in science and technology. Learning and training benefit individuals,
enterprises and society alike particularly when based on the needs of the market.
Individuals benefit from education and training – provided that these are supported
by other economic and social policies. Education and training make individuals
employable and help them gain access to better jobs and escape from poverty.
Human resources development and training contribute to improved productivity in
the economy, reduce skill mismatches in the labour market, and promote a country’s
international competitiveness. In the 21st century, workers need to be lifelong learners,
adapting continuously to changed opportunities and labour market demands of the
knowledge economy. Education systems will have to evolve in that direction. The
major challenge of learning and training in the 21st century for developing countries
consists of insufficient capability to provide necessary education while also not
being market oriented or not based on the needs of the market. These are issues will
be discussed in this paper.
