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Manila Bulletin devider Philippines devider National devider PSAC eyes 2M jobs for Pinoys by 2028

PSAC eyes 2M jobs for Pinoys by 2028

Published Aug 19, 2023 08:26 am

At A Glance

  • The PSAC and the IBPAP recommended a roadmap that could create 1 million additional IT-BPM jobs by 2028.
  • PSAC Lead Convenor and Aboitiz Group President and CEO Sabin Aboitiz said this project could contribute P169 billion in annual personal income tax and inject an 8.9 percent growth into the country's GDP.
  • The PSAC suggested extending Senior High School immersion from 80 to 640 hours to promote higher education internships and foster apprenticeships.

The Private Sector Advisory Council (PSAC)-Jobs is eyeing to work with the Marcos administration to create over two million direct jobs for Filipinos by the end of President Ferdinand "Bongbong" Marcos Jr.'s term.

PSAC (RTVM)
RTVM Screenshot

This developed following the PSAC's meeting with President Marcos in Malacañang on Thursday, Aug. 17.

The meeting focused on priority sectors for the Philippines to become a significant global player while retaining, upscaling, and creating more jobs.

Based on a roadmap proposed by the PSAC and the IT & Business Process Association Philippines (IBPAP), the Philippines is set to emerge as a global leader in the digital domain, bolstered by a targeted approach that could create 1 million additional Information Technology and Business Process Management (IT-BPM) jobs by 2028 and a total of 2.5 million employment opportunities, triggering a cascade of growth and prosperity across various sectors of the economy.

These positions will, in turn, stimulate the generation of at least 550,000 new IT-BPM jobs in the countryside and 6.3 million indirect job opportunities across various industries such as food, logistics, real estate, retail, and transportation.

"The ripple effect of this initiative is expected to significantly contribute to the nation's economic development," the PSAC said in a statement.

In his remarks during the meeting, PSAC Lead Convenor and Aboitiz Group President and CEO Sabin Aboitiz said that the success of this proposal would contribute P169 billion in annual personal income tax and inject an 8.9-percent growth into the Philippine gross domestic product (GDP).

"This transformative undertaking exemplifies a commitment to harnessing the potential of the Filipino workforce and leveraging technology for the nation's progress," he said.

According to the PSAC, the allocation of direct scholarship funds towards IT-BPM training and upskilling, with support from the Office of the Presidential Assistant on Investment and Economic Affairs (OPAIEA) and the Private Sector Jobs & Skills Corp (PCORP), is among these recommendations. The goal is to train 500,000 individuals annually with a budget of P4 billion.

The group likewise recommended close collaboration between the Department of Education (DepEd), the Commission on Higher Education (CHED), and the Technical Education and Skills Development Authority (TESDA) to enhance enterprise-based training programs.

They also suggested extending Senior High School immersion from 80 to 640 hours to promote higher education internships and foster apprenticeships.

Related Tags

PSAC PRIVATE SECTOR ADVISORY COUNCIL job generation ITBPM President Marcos
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