Human capacity development refers to various ways where individuals are trained, schooled, prepared and well equipped to fully maximize their potential to the fullest. Human capacity development is a key part of every developed Economy as it's humans that has developed enough capacity that can drive the economy with the right policies and program when they come to leadership positions.
Top companies all over the world understand this facts very well that's why they invest into capacity development of their employees, because every thing falls down to Huma capacity development of the individual in the company. In inclusion any nation that wants her Economy to grow and develop should invest in the area of capacity development of her citizens by way of setting up quality educational systems, vocational skills that will make her citizens to be ready and fully equipped to develop their nation when given the opportunity.
Human resources is the most important factor of production. Without the personnel, other factors of production will be a waste. Regardless of the worth of the financial, material or natural resources an organisation has, without quality human resources they will not be maximised. This is exactly the problem of some developing nations. Most of them have abundant resources but lack the necessary human resources. This is why developed nations with sound human resources are taking advantage of the abundant resources in developing nations.
China and the Asian Tigers understood the importance of developing human resources which was why they invested in education. This invetments have gradually turned these economically backward nations into the limelight.