ASEAN countries have succeeded in achieving high levels of economic growth and have substantially reduced poverty over the last 20 years. However, on average, education, skills development, and health indicators are below expectations given ASEAN’s income levels, and there are wide disparities in life expectancy, job productivity, and education quality across the region. Further investment in its people, particularly children and young people, remains a key challenge.
The World Bank’s global Human Capital Project is an accelerated effort to assess the progress countries around the world, including those in ASEAN, have made in building human capital. It serves as the basis for strategic support to countries that want to invest more effectively in its people. According to the World Bank, children born in the ASEAN region today are expected to, on average, achieve about 59% of their full productivity potential compared to children born in areas with high performing education and health systems.
“Prioritizing human capital development means putting people at the center of investments, policies, and programs,” said Mara Warwick, World Bank Country Director for Thailand, Brunei, Malaysia and the Philippines. “By working towards these goals, ASEAN countries can directly address gaps and provide a more sustainable, equitable, and prosperous future for all its people.”
Download the Infographic: Invest in ASEAN Human Capital Development
Original source: World Bank
Published on 09 September 2019
