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Manila Bulletin devider Philippines devider National devider Solon urges private sector to dip hands in EBET

Solon urges private sector to dip hands in EBET

Published Jan 19, 2025 09:30 am

At A Glance

  • Quezon City 5th district Rep. PM Vargas is prodding more entities from the private sector to participate in the Enterprise-Based Education and Training (EBET) Framework Act in order to benefit more Filipino workers.

Unemployment .jpg(MANILA BULLETIN)

Quezon City 5th district Rep. PM Vargas is prodding more entities from the private sector to participate in the Enterprise-Based Education and Training (EBET) Framework Act in order to benefit more Filipino workers.

“Jobs and livelihood remain as top concerns of Filipinos. As more employment opportunities await our labor force with the growing demand of various industries, we have to be ready with qualified human resources in the field of critical and in-demand technical skills,” Vargas said in a statement Sunday, Jan. 19.

Principally authored by the Quezon City solon, EBET is a landmark law that aims to promote equal employment opportunities for all by upgrading skills and competencies of Filipino workers through specialized training.

The law was signed by President Bongbong Marcos November last year.

In line with this framework, businesses that will implement EBET or apprenticeship programs will receive deductions from their taxable income equivalent to 50 percent of actual training expenses. They shall also be exempted from duties and taxes if donations, subsidies and financial aid will be made to certified TESDA technical-vocational institutions.

“Incentivizing the private sector hopes to encourage enterprises, including micro, small, medium businesses, to produce high-quality manpower. They can someday take pride of their contribution to the labor market and to our economy,” Vargas said.

“We have already gained momentum by easing unemployment rate despite disruptions caused by storms and disasters last year. We hope to keep up the pace with this government and public partnership," he added.

According to the Philippine Statistics Authority (PSA), unemployment eased to 3.2 percent from the previous 3.9 percent. Underemployment rate also improved to 10.8 percent, or better than the 12.6 percent underemployment rate recorded in October 2024.

Vargas is the brother of his predecessor in the 5th district, former congressman Alfred Vargas.

Related Tags

EBET unemployment underemployment PM Vargas
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