State Dining Room, Malacañan Palace
February 8, 2024

President Ferdinand R. Marcos Jr. convened with key officials from the Private Sector Advisory Council (PSAC) to discuss the Jobs Committee Recommendations on Improving the Global Competitiveness to Accelerate Job Creation in a meeting at the State Dining Room in Malacañan Palace.

The PSAC introduced the Private Sector Jobs and Skills Corp. (PCORP) led by the PCORP Advisory Council — a leading organization active in solving the jobs and skills mismatch.

In line with the country’s goal to help expand the successful micro, small and medium enterprises (MSMEs) mentorship models that support social delivery and upskilling initiatives, the PSAC also presented the three (3) Sharp Focus on Global Competitiveness or the top three (3) investor concerns.

These include Talent (aiming to solve skills mismatch with industry driven solutions), Incentives (aiming to adopt global minimum tax creatively) and Ease of Doing Business (eyeing to systematically and quickly slash red tape).

Following these investor concerns are recommendations for TESDA and the industry to triple the current Enterprise-Based Training (EBT) placements in priority industries by 2025; for the Special Assistant to the President on Investment and Economic Affairs (SAPIEA) to study an upskilling fund that will be financed through adoption of the Global Minimum Tax; and for the SAPIEA to work with PSAC and the mining sector to identify immediate opportunities in downstream industries for economic expansion in key sectors, among others.

According to the PCORP Advisory Council, they are collaborating with the PSAC committees to support job generation for inclusive growth and prosperity in the areas of infrastructure, digital, healthcare, tourism and agriculture.

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