The Pan African Trade and Investment Committee (PAFTRAC) Chairman, Prof. Patrick Utomi, has emphasized that in order for Africa to become more competitive on the world arena, it must make investments in strategic planning and education.
He stressed how important education is to advancing development and economic progress.
Prof. Utomi emphasized that innovation, productivity, and competitiveness all depended critically on having a workforce with a good education.
Prof. Utomi stated that the continent needs both power and education during a discussion on the Point of View on Channel One TV.
“For us to be more competitive not only do we have to have power we also need education. It is the human capital that facilitates productivity increase that drives competitiveness. We need a strategy. you can’t do everything as well.
“You going to choose areas where you have certain factor endowments and you use limited industrial policy to facilitate great efficiencies within those factors to make you competitive on those value chains,” he stated.
