President Ferdinand "Bongbong" Marcos Jr. is determined to provide high-quality and well-paying jobs to the Filipino workforce.
As highlighted in Chapter 4 of the Philippine Development Plan, or PDP, of 2023-2028, Filipinos need to be equipped with the necessary skills to be employed in quality jobs.
Hence, increasing the workforce's employability by expanding training programs in terms of both reach and content remains a priority in particular, and enterprise-based training is highly encouraged to address the high youth unemployment rate.
The Marcos Jr. administration is focused on providing better job quality for the labor force and further reducing unemployment.
Digitalization and innovation among micro, small and medium enterprises or MSMEs will improve productivity, expand market access, and diversify product offerings, ultimately creating more jobs.
Under the Marcos administration, the labor market registered significant progress, with underemployment dropping from 5.3 percent in August 2022 to 4.4 percent in August 2023.
Underemployment improved from 15.9 percent in August 2022 to 11.7 percent in the same month in 2023.
To enhance employability, President Marcos signed the Trabaho Para sa Bayan Act (Republic Act 11692). At the same time, the Senate has approved the Public-Private Partnership or PPP Act with the launch of the National Innovation Agenda and Strategy Document, or NIASD, for 2023-2032 to propel the nation toward a more resilient and prosperous future, ensuring that the Filipino workforce will not only survive but thrive in an evolving job market.
Engaging in micro, small and medium enterprises will lead to training a workforce of 24-25 years of age to achieve what the leaders of this country pledged to the people when they took their oath of office.
The Philippine Statistics Authority classifies an enterprise as micro if it has less than ten employees, small if it has 10-99 workers, medium with 100-199 workers, and large with 200 or more employees.
MSMEs make up 99.5 percent of all businesses in the country, provide 63 percent of the employment, and constitute 40 percent of the gross domestic product or GDP.
For the information of the Filipino people, China, with a population of 1.4 billion, became the world's second economic power because of its 140 million MSMEs and self-employed citizens.
Practically every Chinese works to be self-sufficient. China's biggest industries are manufacturing and farming.
China's great advantage lies in the fantastic reality that 73 percent of its 1.4 million population are internet users. The Chinese are well-informed.
In other words, China built its economic and military power through its industry as a people engaging in micro, small, and medium enterprises and self-employment. China offers cheaper prices, especially if you buy wholesale.
China is the Philippines' number-one trading partner. Bilateral trade in 2022 grew by 7.1 percent to $877 billion, according to China customs data. Bilateral trade between the two countries had fallen by 16 percent a year earlier.
Philippines–China trade relations continue to flourish despite heightened tensions in the South China Sea. But Filipino businessmen worry about the worsening sea dispute that could affect their business plans.
President Bongbong Marcos' keen interest in sources of energy is good for the country. His interest in promoting alternative and sustainable energy sources blossomed when he was governor of Ilocos Norte. This interest was instrumental in attracting big-ticket renewable energy investments to the province.
His strong support and active push served as the key driver for the development of Southeast Asia's first wind farm in the Bangui windmills that established the province and the region as a leader and champion for a broader shift to renewable energy and the sustainable use of the country's natural resources.