PNoy: PHL is in the midst of a dramatic turnaround The Philippines is in the midst of a dramatic turnaround, President Aquino told business and political leaders attending the World Economic Forum Thursday in Makati City, trumpeting his administrations economic achievements. The Philippines is in the midst of a dramatic turnaround, President Benigno Aquino III declared before world leaders on Thursday, trumpeting his administrations economic achievements. It is evident: Our country is in the midst of a dramatic turnaround in every sector and we are intent on continuing this trend and making certain that each and every Filipino enjoys the full dividends of progress, Aquino said in his speech at the World Economic Forum in Makati City. All signs for the future are pointing upwards, the President noted. Citing the population projections of the United Nations, the President said the Philippines will be hitting a demographic sweet spot in 2015 that may last for the next 35 years. Countries in such conditions, he said, post an average yearly growth of 7.3 percent over the next ten years. We are incredibly poised to take full advantage of the situation, having made strategic investments in education and skills training, which will equip our future workforce with the correct skills to fill the jobs that are and will be created, he said. He specifically said that government has equipped the Technical Education and Skills Development Authority with the resources necessary to help people acquire the skills they need to be truly competitive in the job market. Data from the Department of Budget and Management indicate only 28.5 percent of TESDA graduates were able to find work in 2006 to 2008. But according to a 2012 TESDA study, 62.4 percent of their graduates were able to find employment. Note that these numbers are still improving: According to our TESDA Director General Joel Villanueva, the most recent batch of trainees for the semiconductor industry has posted a 91 percent placement ratio, he said. Aside from this, the President noted his administration also undertook a large-scale expansion of the conditional cash transfer program by quadrupling its budget in four years. He said they are now assisting 4.3 million families, equivalent to about 22 percent of the population, that are expected to equip their children with the skills needed to become a productive part of the workforce. And even before this, the Philippines has acquired a renewed perception from the international community because of the recent upgrade in credit ratings and standing in other indexes, the President said. Our country has the social and economic momentum to go from success to success, and truly make waves throughout our archipelago, in the international community, and in the vast, immeasurable ocean of history, he added. By KIMBERLY JANE TAN, GMA News GMA News Online - Thursday, May 22, 2014
Posted on: Thu, 22 May 2014 17:26:25 +0000
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