Youth are a strategic development asset for Islamic countries, but significant gaps still remain in utilizing their potential, Ramil Mammadov, Lead Advisor for Finance, Competitiveness and Innovation at the World Bank, said during the session titled “Youth Without Borders: A Driving Force for Shared Regional Prosperity” held as part of the Islamic Development Bank Annual Meetings in Baku, APA-Economics reports.
According to him, the employment rate in the region varies between approximately 15% and 30%: “At the same time, the share of young people who are not in education, employment or training (NEET) is around 20%. These indicators can be compared with those of Eastern European countries. However, there is no reason to lose this potential. We know that the economy and productivity are largely determined by the labor factor. Capital and technology also play an important role. Islamic countries, particularly the Central Asia and Caucasus region, are rich in labor resources, and young people account for a large share of this workforce — approximately 50%,” he said.
He also emphasized that around half a million students in the region study abroad. About 20% of them choose Türkiye, while the others go to various countries: “Intra-regional education and labor mobility remain limited, and there is significant potential for development in this area,” he added.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
