Upskilling, flexible labor laws seen to boost job creation: advisers

ABS-CBN News

Posted at Aug 18 2022 10:24 AM

MANILA - The Private Sector Advisory Council (PSAC) endorsed a number of measures to President Ferdinand Bongbong Marcos aimed at generating more jobs, the group led by Aboitiz Group president Sabin Aboitiz said Thursday.

In order to create jobs and attract investors, the Marcos administration must scale up MSMEs, identify labor-intensive and high potential industries, make doing business here easier, make labor laws more flexible and build skills for short-term productivity and long-term competitiveness, the group said.

The measures were endorsed to Marcos during a meeting on Aug. 17 which was also attended by Labor Secretary Bienvenido Laguesma, the PSAC said. 

These were developed under the group's Job's sector led by RFM CEO Joey Concepcion with members JG Summit president and CEO Lance Gokongwei, SM Investments Vice chairperson Tessie Sy Coson, Magsaysay Group president and CEO Doris Magsaysay Ho, Alliance Global Group President and CEO Kevin Tan and Ayala Corp Independent Director Rizalina Mantaring.

The new council said it would meet with Marcos in the coming weeks.

Marcos earlier created the PSAC to remain informed of the concerns of the businesses in the country.

Job creation is part of Marcos' 8-point economic agenda, which was released to anchor spending and projects in line with its goal of sustaining robust economic growth and reducing poverty in the next 6 years.

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