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Manila Bulletin devider Philippines devider National devider Marcos: Philippines now focusing on upskilling workers, adopting new tech to sustain economic growth

Marcos: Philippines now focusing on upskilling workers, adopting new tech to sustain economic growth

Published Mar 20, 2024 12:18 am

At A Glance

  • Marcos said the Filipino workforce has to acquire specialized skills for them to be able to compete properly in the international arena and to put them in a good position wherever they see opportunities.

Aside from attracting more investments, President Marcos said that the government is now focusing on re-skilling and upskilling Filipino workers and adopting new technologies to sustain the country’s current growth momentum and achieve a stronger economy.

President Ferdinand ‘Bongbong’ Marcos Jr. (RTVM screenshot)
President Ferdinand ‘Bongbong’ Marcos Jr. (RTVM screenshot)

Marcos said this as he graced the World Economic Forum (WEF) Country Roundtable in Malacañan on Tuesday, March 19.

In an interview with WEF President Børge Brende, the President said the government is looking into re-skilling and upskilling Filipino laborers to increase their competitiveness in the new economy

"Whenever we speak on investments I always ask the prospective investor if we have, in fact, a training program, if there is a transfer of technology, because this is going to be essential," he said.

"This continuous training and upskilling of our workers is conducted not only so that they are able to work in the areas that are important in the new economy. And also we have a very significant part of our economy [that] is dependent on our overseas workers," he added.

According to Marcos, the Filipino workforce has to acquire specialized skills for them to be able to compete properly in the international arena and to put them in a good position wherever they see opportunities.

He added that capital investment in new sectors will also be key, citing investments in digital space, new technologies, and industries such as green minerals processing and battery production.

Meanwhile, President Marcos said the government is hoping to increase government-to-government investments.

“These investments also must be directed properly. They cannot be just investments that are perhaps very profitable but do not really help the economy grow. So [it] is still the main aim," he said.

"I think, we [have] grown the idea… that we grow the economy out of the doldrums of the post-pandemic situation,” he said.

The Philippines hosted the two-day 23rd World Economic Forum on East Asia, with discussions centering on the promise and potential of the country as the strongest-performing Southeast Asian economy in 2024.

Related Tags

Bongbong Marcos filipino workforce World Economic Forum Filipino workers President Marcos
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