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Manila Bulletin devider Business devider DBM backs SUCs with investment support

DBM backs SUCs with investment support

Published Sep 29, 2023 08:51 am

At A Glance

  • The Department of Budget and Management reaffirms support for State Universities and Colleges (SUCs).<br>Budget Secretary Amenah Pangandaman said SUCs contribute significantly to the competitive education sector of the country.<br>SUCs promote quality and affordable education, helping to break the cycle of poverty.<br>The Marcos administration is committed to investing in education.<br>President Marcos prioritizes the education sector for socio-economic development.<br>The government is investing in innovation, research, and development (R&D).<br>The National Innovation Agenda and Strategy Document 2023-2032 has been launched.<br>The 2023 General Appropriations Act (GAA) allocates P116 million for the Innovation Fund.

The Department of Budget and Management will remain supportive of the State Universities and Colleges (SUCs) for their contribution in the competitive education sector of the country.

In a statement on Friday, Sept. 29, Budget Secretary Amenah F. Pangandaman said that SUCs promote quality and affordable education by solving the cycle of poverty for many Filipino families.

“The PBBM administration, through the Department of Budget and Management, will not hold back on investing in education,” Pangandaman said.

She also explained how President Marcos would prioritize the education sector in a forum entitled, “SUCs as Major Partner in Fostering Socio-Economic Development through Research, Innovation, and Technology Transfer," organized by the Nueva Ecija University of Science and Technology (NEUST).

One of the administration’s current initiatives to this would be investing in innovation, research, and development (R&D). This activity would help determine how to improve the country’s productivity and competitiveness and the well-being of the people. 

According to Pangandaman, the government has recently launched the National Innovation Agenda and Strategy Document 2023 to 2032. This would help prioritize spending in order to find better innovations in the country’s development.

Because of this, P116 million has been provided to establish the Innovation Fund in the 2023 General Appropriations Act (GAA).

“This revolving fund aims to strengthen entrepreneurship and support enterprises engaged in developing innovative solutions,” said Pangandaman.

In the 2023 National Budget, more than P4.4 billion has been given to the Department of Education (DepEd), SUCs, and the Department of Migrant Workers (DMW).

A total of P7.9 billion was also allotted to the Department of Science and Technology (DOST) for the R&D.

“Our youth are the torchbearers of our future. It is only right that we guide and support them by developing their skills and uplifting their spirits. We should believe in them as the future leaders and pioneers of the society,” said Pangandaman.

Aside from this, the National Economic and Development Authority will also be provided with P100 million for their Innovation Fund.

About P1.33 billion will then be allocated to the Research and Development programs of SUCs.

The Marcos administration has allotted the education sector with P924.7 billion for next year.

Furthermore in 2024, Universal Access to Quality Tertiary Education (UAQTE) program will also be given P51.1 billion to continue their guarantee on post-secondary education.

Within the P51.1 billion, all of the SUCs nationwide will be allocated with P21.7 billion. Subsequently, they will also receive P3.4 billion to implement more infrastructure projects in the coming year.

Lastly, a total of P18.2 billion out of P5.7 trillion would be allocated to aid direct research and development programs in 2024.

“I urge you to continue leading efforts to democratize access to quality education by helping improve the quality of education in our SUCs,” the budget chief concluded.

Budget Undersecretary Goddes Libiran added that the activity would promote transparency and boost citizen participation, as advocated by Pangandaman.

“This is our way of reaching out to you. We don’t want you to think that we are leaving you [SUCs] behind because that is not true,” said Libiran.

Related Tags

Department of Budget and Management Budget Secretary Amenah F. Pangandaman
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