Just to be clear, this is not about the American TV show formerly hosted by President-elect Donald Trump and recently taken over by actor and former California Governor Arnold Schwarzenegger. This is about apprenticeships in the real world.
Being an apprentice is a great way to enter the job market, especially if you are just out of school and unsure what the future holds. For employers, an apprenticeship program is a relatively low-cost and low-risk option to discover talent and establish a pipeline of future employees.
So, why is there not a booming apprenticeship industry? The challenge is often the lack of a reliable marketplace for matching demand and supply. Several start-ups are aiming to fill that gap.
GetMyFirstJob does exactly that in the United Kingdom. This online tool helps job seekers identify and explore apprenticeship and training opportunities based on their skills and interests. Potential candidates are then matched with partnering employers, colleges and training providers.
Fuzu — Swahili for "successful" — is a Kenyan-Finnish employment platform that aims to bring the best of Finland’s education and innovation systems to job seekers in Africa. Their motto is, “Dream. Grow. Be Found.” Fuzu works with a diverse range of partners, such as M-Kopa and Equity Bank, to provide job seekers with career opportunities and insights on the job market. Employers have at their disposal an effective recruitment system and pay-for-performance solutions. In a short time, Fuzu has established a community of more than 180,000 users and more than 100 companies.
Last week, Andela received the U.S. Secretary of State’s Corporate Excellence Award for SMEs. The U.S. Executive Director of the World Bank Group is hosting a “brown-bag lunch” discussion with their CEO this Wednesday at the Bank's headquarters.
Private Sector Development
In today’s globalized world, a corporation might have a retail store in one country, a factory in another, and financial services provider in yet a third.
Corporate interconnectedness has brought investment and growth, to be sure, but it has also added complexity to the work of tax authorities. Increasingly, developing-economy governments come face-to-face with corporations that employ sophisticated strategies with the aim of paying fewer taxes. With our recently published handbook, "Transfer Pricing and Developing Economies: A Handbook for Policy Makers and Practitioners,” we hope to support efforts to protect countries’ corporate tax bases.
There is no doubt that Bangladesh is a modern day success story—a far cry from Henry Kissinger’s label of a “basket case.” Its growth has been steady, even impressive in the context of feeble global growth, and it has now joined the ranks of a lower middle-income country. Its poverty reduction record is even more impressive, with over 20.5 million people escaping poverty between 1991 and 2010.
But the next phase of growth and poverty reduction becomes harder, since the more obvious sources of growth have largely been exploited.
Global competition to attract foreign and domestic direct investment is so high that nearly all countries offer incentives (such as tax holidays, customs duty exemptions and subsidized loans) to lure in investors. In the European Union, the 28 member states spent 93.5 billion euros on non-crisis State Aid to businesses in 2014. In the United States, local governments provided and average of US$80.4 billion in incentives each year from 2007 to 2012.
In order to better understand the prevalence of incentives worldwide, the Investment Climate team in the Trade & Competitiveness Global Practice of the World Bank Group reviewed the incentives policy of 137 countries. Results showed that all of the countries that were surveyed provide incentives, either as tax or customs-duty exemptions or in other forms. Table 1 (below) shows the rate at which these instruments are used across advanced and emerging economies. For instance, tax holidays are least common in OECD countries and are most prevalent in developing economies. In some regions they are the most-used incentive.
However, despite offering incentives, few countries meet all the requirements of a fully transparent incentives policy. These include: mandating by law, and maintaining in practice, a database and inventory of incentives available to investors; listing in the inventory all aspects of key relevance to stakeholders (such as the specific incentive provided, the eligibility criteria, the awarding and administration process, the legal reference and the awarded amounts); making the inventory publicly available in a user-friendly format; requiring by law the publication of all formal references of incentives; and making the incentives easily accessible to stakeholders in practice. A T&C study now under way on incentives transparency in the Middle East and North Africa (MENA) region showed that none of the eight countries analyzed has a fully transparent incentives policy. (See Graph 1, below.)
One of my favorite songs when I was growing up was John Lennon’s “Imagine.” A few months ago, UNICEF created a project around it to highlight the plight of millions of refugee children. As 2016 drew to a close, I couldn’t help but imagine a world with high-quality, affordable, sustainable, well-maintained infrastructure services for everyone.
I’m not sure a video of infrastructure projects set to “Imagine” would fire people up as much as the UNICEF video does. But there is value in reflecting on what we have accomplished in 2016, and what we might hope for and imagine in 2017, to bring this vision closer to reality for millions of people.
- Public Private Partnerships
- Public private partnership
- Labor and Social Protection
- Agriculture and Rural Development
- Climate Change
- Financial Sector
- Global Economy
- Information and Communication Technologies
- Law and Regulation
- Private Sector Development
- Public Sector and Governance
- Urban Development
- The World Region
Interest in Public-Private Partnerships (PPPs) is gaining momentum in Asia. Strong economic development and increasing urbanization have sharply increased demand for roads, bridges, and airports, as well as energy, water, and sanitation. As governments realize they do not have the financial resources necessary to meet these infrastructure needs, many have sought partnerships with the private sector for investment, technical expertise, and management skills. This, in turn, has made the Asia PPP Practitioners Network (APN) – a regional Asian forum for PPP practitioners – an important and relevant event for governments, corporations, and PPP experts. The most recent gathering took place in Seoul from November 30 to December 2, 2016.
The 2016 APN Conference brought together PPP practitioners from more than 12 countries in the Asia-Pacific region, including both jurisdictions with extensive PPP experience – such as the Philippines – and states that have only recently embarked on their PPP programs – such as Myanmar. The discussions were detailed and enriching, with participants actively sharing a wide variety of viewpoints and lessons learned.
Photo Credit: DEMOSH via Flickr Creative Commons
It turns out that airplane pilots and PPP practitioners now share a common training practice to sharpen their skills: simulation exercises.
Kenya is in the process of launching a number of PPPs, and conducting capacity building in the Ministry of Finance PPP unit and within the various implementing agencies is key to preparing professionals and designing and implementing successful PPP projects.
In September 2016, the Public-Private Infrastructure Advisory Facility (PPIAF) conducted two innovative events in Kenya to build the capacity of PPP players at the national and sector levels. The first was the PPP simulation game funded through the PPIAF knowledge proposals in partnership with the Dutch Government. This was the second in a series of the PPIAF-funded activities, following a similar simulation training carried out in Astana, Kazakhstan. The training focused on post-contract monitoring and was offered to the Kenyan PPP unit as well as implementing agencies that are close to launching their PPP projects.
Imagine you fall ill or have a serious accident. You survive, but to recover you need extensive medical care. The problem? You don’t have insurance and have to pay out of pocket. Your life savings are quickly drained away, as are your dreams. Your children lose hope for higher education; your well-researched business plan becomes a work of fiction.
According to the World Economic Forum’s “Global Competitiveness Report 2016-2017,” Hong Kong dropped two notches to rank as No. 9 in its Global Competitiveness Index. The decline occurred mainly because the city faces challenges to “evolve from one of the world’s foremost financial hubs to become an innovative powerhouse.”
One might argue this is an unfounded worry: After all, as a developed economy with a GDP per capita of US $42,000, Hong Kong has recorded an impressive GDP growth rate, over the last five years, of about 3 percent annually. This growth rate is higher than many developed economy.
However, if we look at the economic figures more closely, some worrisome early warning signs are already emerging – especially in terms of the factors that will drive Hong Kong’s future economic growth.
Apart from finance and insurance, the majority of Hong Kong’s GDP growth nowadays is contributed by “non-tradable” sectors that have less knowledge and innovation content, such as the construction and public-administration sectors.
According to the World Bank’s latest research on “Competitive Cities for Jobs and Growth,” long-term economic success and job growth in cities are usually driven by “tradable” sectors – economic sectors whose output could be traded and competed internationally. Firms in tradable sectors are exposed to fierce competition which, in turn, exerts pressure on them to invest in research and knowledge-intensive sectors so that they become more productive and innovative in order to remain competitive internationally. Hong Kong is now lagging behind its Asian and world peers in the critical features of knowledge and innovation.
Although the urgency to act to increase the knowledge-driven content of the economy is obvious, there seems to be a limited number of actions taking place here on the ground in Hong Kong. How can Hong Kong forge ahead and start making changes?
Staying competitive in today’s global economy is like sailing against the current: Either you keep forging ahead, or you will fall behind.
The World Bank’s Smart Cities Conference – held in Yokohama, Japan last month – presented some good examples from around the world on how to use a bottom-up approach with active citizen engagement to increase the chance of success in implementing changes. The audience was interested in learning about the successful transformation of Yokohama through the cities many initiatives, such as the development of the Minato Mirai 21 central business district.