South Korea has agreed to provide assistance to enhance vocational training opportunities in Sri Lanka.
The South Korean Government will also support Sri Lanka to promote employment generation and investment opportunities.
There is ample scope for investment opportunities in Sri Lanka due to its strategic location in the region officials said adding that the government has requested the Korean Embassy to encourage leading Korean companies to explore investment opportunities in the island.
Nearly 22,000 Sri Lankans are employed in South Korea and they are happily contributing to the workforce, and steps would be taken to fulfill the request made to increase the quota provided for the employment of Sri Lankans in South Korea.
Cabinet of ministers clears to ink MoU with Korean Human Resource Development Service to improve vocational training in a two-year program
Korea has come forward to assist Sri Lanka to boost vocational training and education in a two-year program.
The Cabinet of Ministers at its meeting on Monday approved entering into a Memorandum of Understanding (MoU) with the Korean Human Resource Development Service and Vocational Training Authority to boost vocational training and education in Sri Lanka.
The move follows the Attorney General’s clearance and the approval of the External Affairs Ministry and the Department of Foreign Resources received.
The Human Resources Development Service implemented under the Department of Labour and Employment in Korea has agreed to provide a grant of 2.15 billion South Korean Won to upgrade and boost the capacity of the National Vocational Training Institute in Niyagama.
This institute is operating under the Vocational Training Authority (VTA),” a statement comprising Weekly Cabinet Decisions issued by the Government Information Department noted.
The proposed project is scheduled to be implemented in a two-year program from 2023. The proposal to this effect submitted by the Education Minister Susil Premajayantha was approved by the Cabinet of Ministers at its meeting on Monday.
The Korean Government has provided assistance for ongoing projects with more than US$ 30 million to uplift the education sector of Sri Lanka.
Korean Ambassador Santhush highlighted that the Korea International Cooperation Agency (KOICA) is funding several ongoing projects that are carried out in the education sector.
Among these development projects, establishment of a teacher training system for technology stream, enhancing early academic performance and modernization of construction technology training programs aimed to strengthen the educational facilities not only for students but also teachers, parents and other stakeholders as well.
The Korean Government will continue to foster the educational talents of Sri Lankan youth by assisting development projects to improve educational participation and vocational training in Sri Lanka.
So far, Korea has channeled more than US$ 30 million to Sri Lanka to ensure inclusive development through quality education and improve the education system of Sri Lanka.
Among other avenues of Official Development Assistance (ODA), the Korean Government is paying attention to improving the quality of education, expanding inclusiveness, and intensifying vocational training in Sri Lanka.
The Korea International Cooperation Agency (KOICA) has consistently funded and supported the Ministry of Education to promote rural education.
Last year, KOICA together with UNICEF provided a grant of US$600,000 to assist the critical response to Covid-19 in the education sector of Sri Lanka.
In addition, the Korean Government continues to extend assistance to the Korean Institute of Technical Training (K Tec) in Orugodawatta, Colombo which was established with support of the Korean Economic Development Cooperation Fund (EDCF) by Korea Exim bank.