MANILA - The Asian Development Bank, together with government agencies on Thursday, awarded 5 enterprises networks grants for upskilling their employees.
The program is part of the new "SkillsUpNet Philippines" which will give $20,000 to $80,000 to the companies to train their workers.
Officials said the trainings would help improve skills of employees, which would help the overall business.
"Employers have to play an important role in identifying skills gaps, in creating the training curriculum, and in helping to identify and develop the training providers themselves," ADB Vice President Ahmed Saeed said.
The initial batch of awardees include Dagos Tabi Albay Micro and Small Accommodation Enterprises Network, Cebu Constructors' Network, Cebuanimation Network, Kapehan sa Davao, and Sulong Davao Business Owned by Women.
"Our country's future rests on the shoulders of our workforce and the investment we make in human capital development is crucial, not only to accelerate our economic recovery, but more importantly, to attain our goal of inclusive and sustainable industrial development," said Trade Undersecretary Rafaelita Aldaba who also joined the event.
Meanwhile, Labor Undersecretary Carmela Torres said upskilling is crucial due to the changing technology and work models. A good workforce will also yield a better economy.
Torres said the program would "contribute to addressing the current unemployment and underemployment rate in the Philippines, especially brought about by the COVID-19 pandemic."
ADB will continue to monitor the awardees in the next months to see the training programs they have implemented and its effects on the workers.