PH workforce is government's 'greatest advantage' — Marcos
President Ferdinand "Bongbong" Marcos Jr. has taken pride in the country’s workforce, which he said is the government’s "greatest advantage" in the international stage.
In a roundtable meeting with European business leaders on Wednesday, Marcos boasted about the country's "sizable population," which stands at 107 million, including its 50 million workers.
He also noted the country's 800,000 annual graduates from the fields of business administration, education science and teacher training, engineering and technology, information technology-related disciplines, as well as medical and allied courses.
"Apart from the young, the Philippine workforce is distinguished by high trainability... proficiency in English language, technological skill, cost-efficiency, cultural adaptability and a low turn-over or attrition rate," he said at the meeting, which was held at the sidelines of the ASEAN-EU Summit in Belgium.
The Philippine median age is 25 years old, he added, while more than 60 percent of the labor force are of working age.
Apart from a domestic market and consumer base of 107 million people, he said the Philippines offers access to the Association of Southeast Asian Nations (ASEAN) market, which has a population of about 600 million and access to key markets through Free Trade Agreements (FTA) and Generalized System of Preference (GSP).
Marcos also told businessmen that the government is currently working on an Executive Order on the Creation of Green Lanes.
The order seeks to mandate concerned offices to establish a Green Lane to expedite and streamline processes, such as the issuance of permits and licenses, as well as the resolution of issues in strategic investments.
It also requires government agencies and local government units to process, in the case of a simple transaction, a permit or license application in a period no longer than three working days, while in the case of highly technical transactions, 20 days from the date of receipt.
The Philippine economy is also poised to grow, Marcos said as the country is open for businesses.
He assured the European business leaders that his administration is working towards ensuring sound macroeconomic fundamentals.
That could be done by improving bureaucratic efficiency, ensuring sound fiscal management, creating more jobs by promoting investments, improving infrastructure and ensuring energy security, among other things.
He said the Philippines is an ideal regional hub for sustainable and innovation-driven manufacturing and services, as well as for clean technology and renewable energy sources.
"I would like to assure you that the Philippine Government will continue to provide support for businesses and investments to continuously grow and prosper," he said.