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Significance of human capital in economic development

JOSHUA Banda.

Analysis: JOSHUA BANDA
HUMAN capital may be described as an intangible asset, unlike capital assets.
Remember that factors of production include labour; not just labour, but skilled labour.
A nation which has invested in its human resource is said to have increased chances of fostering development. Such an initiative reduces the involvement of expatriates.
Fifty-six years after independence, Zambia boasts of having trained several experts who include medical practitioners, supply chain experts, legal practitioners, accountants, IT experts, engineers and librarians, to mention but a few.
The country is still offering students loans to school-leavers to pursue careers of their choice locally and abroad. Zambia has sent many students to countries such as China, India, Russia, the United Kingdom, and the United States of America, among others.http://epaper.daily-mail.co.zm/

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