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Private Sector Advisory Council Backs President Marcos’s Strategic Initiatives for Job Generation

PSAC-Jobs supports President Marcos's initiatives to empower local talent, improve vocational training, and streamline business processes in the Philippines (photo from PCO)

The Private Sector Advisory Council – Jobs Sector (PSAC-Jobs) is fully supportive of President Bongbong Marcos’s proactive efforts aimed at bolstering local talent retention, enhancing vocational training, and streamlining business processes in the Philippines.

PSAC-Jobs stands behind President Marcos’s strategic approach to retaining healthcare and digital industry workers within the country before they explore opportunities abroad. The proposed scholarship program, with a commitment to domestic work for 2-3 years, perfectly aligns with PSAC’s recommendation of nurturing local talent for economic advancement.

Also, the Council recommended to President Marcos of expanding accelerated certificate programs, particularly through TESDA. These shorter courses effectively address the demand for skilled workers, empowering individuals for a wide array of employment opportunities.

Echoing concerns about the impracticality of individual training ships for maritime schools, PSAC-Jobs advocates for exploring alternative solutions such as shared vessels to ensure quality training while optimizing resources.

Acknowledging the necessity of simplifying business registration and permitting processes, PSAC-Jobs emphasizes the importance of collaboration between the government, private sector, and Local Government Units (LGUs) to implement standardized systems that foster economic growth and attract investments.

Additionally, PSAC-Jobs supports further study on proposed tax rates and incentives for the mining industry, emphasizing the importance of fair taxation policies that balance competitiveness with industry growth and national development.

Lastly, PSAC-Jobs underscores the significance of studying the implications of the Global Minimum Tax to maintain the Philippines’ competitiveness while ensuring sustainable growth.

In reaffirming its commitment to collaboration with the government and stakeholders, PSAC-Jobs pledges to actively contribute to driving inclusive growth and prosperity across the Philippines.

About Private Sector Advisory Council

The Private Sector Advisory Council (PSAC) has been established strategically by President Ferdinand Bongbong Marcos Jr to create and strengthen innovative new synergies between the private and public sectors. PSAC comprises business leaders and experts across six main sectoral groups — Agriculture, Digital Infrastructure, Jobs, Healthcare, Build-Build-Build, and Tourism.

The Council helps the government deliver on its commitment to transform the Philippine economy by implementing robust infrastructure programs, creating more jobs and attracting more investors, digitizing processes, and improving agricultural productivity through the recalibration of micro, small and medium enterprises (MSMEs), jumpstart Philippine Tourism and ensuring an equitable, sustainable, and inclusive business landscape for Filipinos.

PSAC will continuously recommend modern policy development to the government and report regularly to the President to provide feedback and adjust recommendations based on what is happening on the ground.

Follow PSAC on Twitter to get the latest news as it breaks: https://twitter.com/PSAC_PH.

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