President Marcos has signed into law Republic Act (RA) No. 12063 or the Enterprise-Based Education and Training (EBET) Framework Act which aims to address the skills gap in the labor force and forge a more adaptable, future-ready workforce.
READ: https://mb.com.ph/2024/10/22/marcos-signs-ebet-framework-act
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READ: https://mb.com.ph/2024/10/22/marcos-signs-ebet-framework-act
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NewsTranscript
00:00The President may now proceed in signing into law the Enterprise-Based Education and Training Framework Act.
00:18Upon signing of the Harmonized Version of Senate Bill No. 2587, House Bill No. 7400 and 6523, it shall be known as Republic Act No. 12063 and titled an Act Institutionalizing the Enterprise-Based Education and Training Framework and Appropriating Funds Therefore.
00:40This measure rationalizes local training modalities under a single framework in partnership with the private sector in order to effectively address job skills mismatch and ensure competitiveness of the Philippine workforce vis-Ã -vis the competency requirements of the rapidly evolving global market.
01:11Thank you, Mr. President.
01:18Yesterday, the PSA released the latest labor force survey and I'm happy to note that our employment and unemployment rates improved in the past three months.
01:28With this law, I'm confident that we will be able to sustain and further improve these numbers.
01:35By establishing a framework on career advancement and industry-relevant skills, this law directly addresses the issues of the lack of formal training and skill mismatches, ensuring that every Filipino can contribute and benefit from our nation's growth.