August 18, 2022

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Marcos advisers identify 5 priority areas to accelerate job creation

THE Private Sector Advisory Council (PSAC) recommended five priority areas for President Ferdinand R. Marcos, Jr. to address, which it said will accelerate job creation. 

The priorities are headlined by programs to increase the number of small and medium enterprise, identifying labor-intensive industry segments, and attracting more investors by cutting red tape, the PSAC said in a statement on Thursday.

The rest of the five priorities are making labor regulations more flexible, and building worker skills, it added.

The meeting was attended by PSAC head and Aboitiz Equity Ventures, Inc. CEO Sabin M. Aboitiz and the council’s jobs sector lead, RFM Corp. CEO Jose Maria A. Concepcion.

JG Summit Holdings CEO Lance Y. Gokongwei, SM Investments Corp. Vice-Chairperson Tessie Sy-Coson, Magsaysay Group CEO Doris Magsaysay Ho, Alliance Global Group CEO Kevin Andrew L. Tan, and Ayala Corp. Independent Director Rizalina G. Mantaring were also present at the meeting with Mr. Marcos.

Labor Secretary Bienvenido E. Laguesma expressed his support for the PSAC recommendations, the PSAC said.

The council said it will again meet with Mr. Marcos in the coming weeks “to lay out a roadmap that will help the Build, Build, Build and tourism sectoral groups secure quick substantial wins in the first 100 days of the administration.”

In his first address to Congress, Mr. Marcos said he will work with the private sector and make the Philippines a destination for investment. — Kyle Aristophere T. Atienza