Human Capital & Technical Skills (A Case Study on Myanmar’s)

Education plays a vital role in the realization of ecological human resource development programmes of any nation.  The fast changing technical improvement of information and communication technology has changed the way the world connect and is therefore a requirement for Myanmar’s human development (UNDP 2013) in all grounds. More importantly while education to develop the capacity for self-sustaining growth and development are vital; inadequate resources of such growth might also include aids from the developed nations as well as non-government organisations such as the World Bank and World Food Programme.

The World Bank Group had revealed its decision to support about 8.2 million students across 40 townships in Myanmar to enable the nation in improving and spreading the School Grants Program and Student Stipends Program of the Government. According to Mena Report (2014), the Education Ministry’s capability to ensure the delivery of better education to all citizens are facilitated through completion of additional years of schooling for more students.  The funds from the World Bank’s Decentralizing Funding to Schools Project, is financed by a credit facility of US$80 million from the International Development Association and US$20 million from the Australian Government using a multi-donor trust fund to assist and supervise the Ministry of Education to realize the country’s longer-term objectives. Australia had continued to increase its support for Myanmar’s population’s basic needs, particularly in education and health.

Long term investment in human capital in the form of education by a nation is to improve access to quality and early childhood development opportunities.  They provide and share many physical presences that are aligned with physical capital. These varieties of investments are required capital for Myanmar’s long term investment to build its research and business development through change.   Research suggests Myanmar’s transformation of its research and development will produce its enduring paybacks to the societies and contribute to its larger economic importance. Physical capital accords a country to get a return since its people are prepared to pay to use a portion of physical capital indeed as it lets them to produce more productivity is realistic.  Myanmar’s economic growth and social improvement depend on there being measures that support investment, accept modernization and technological distribution and to reject entrusted benefits from hindering its advancement. So, investment in human capital and technological improvement are vital and required for Myanmar to sustain its overall competitive advantages. While rapid normal variation and globalization; competition are attractive but influential and therefore Myanmar’s ability to lease new technologies is absolutely critical to its growth.  Competence in particular is a purpose of Myanmar’s educational achievement and skill level of the workers.  Social capability thus raises society’s performance on integrating technology for marketplaces to function and government’s incentive to structure so as to promote economic efficiency and political stability.

Additionally, Myanmar’s investment in human capital is to ensure its skills and knowledge that make individuals productive similar to physical capital is capitalized in ones’ knowledge and skills for its future return on that investment. Information and knowledge however can have important associations for long-term businesses’ investment and encouraging sustainable growth (AusAID 2013). Human capital investment can also increase production to different practical steps, consequently it can influences new growth but it depends on the allocation of resources a nation commits in.  Such view about growth is generally held by the Productivity Commission which suggests the varieties of resources a country invests in and the choice of research focused on that increases the power of human capital.  So, growth in education perhaps cultivates from continuing training and industrial change comes from research and innovations are possible.  Social capital similarly can create benefits through ‘integrated policy approach’  according to Smith (2014). Therefore, aid to the general public can be achieved by reducing process overheads, stimulating reassuring behavior, circulating facts and information and services improvement to create individual well-being and its associated spillover through developments.