Human capital growth to raise labor efficiency - expert

ASTANA. KAZINFORM - Growth of human capital will allow to raise labor efficiency significantly, believes acting head of the Economic Research Department of the Kazakh Institute for Strategic Studies Lyailya Almukhamedova.

"In the conditions of a shift to the new technological wave, the development of knowledge-based economy and information-oriented society, human capital becomes one of the key factors of economic development. According to experts, if human capital growth increases to 1%, labor efficiency will grow for 3.8%," Almukhamedova told Kazinform correspondent.

She also pointed out that President Nursultan Nazarbayev paid utmost attention to the development of human capital in his recent state-of-the-nation address and proclaimed increasing the quality of human capital in Kazakhstan as one of priorities.

"Kazakhstan will implement gradual steps in the sphere of education, medicine and social security. I would like to especially note the initiative on implementation of the project "Free vocational education for all". Thanks to the project the government will decrease unemployment rate across the country and encourage people to get new professions and hands-on skills," Almukhamedova added.