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Palace: Young work force will be huge factor for sustained economic growth

Posted on October 22, 2013

MANILA, (PNA) — The country’s demographic sweet spot refers to its young, vibrant workforce that could be sustained for many decades if nurtured well, Malacanang said on Tuesday.

Presidential Communications Operations Office Secretary Herminio Coloma said in a press briefing on Tuesday that based on several studies the country’s young population in addition to the positive economic growth will become an asset for the country in the coming years.

In terms of demographics the Philippines has a huge number of working age people because of its high growth rate in population, he said.

“Kapag tiningnan ang trajectory ng ating GDP per capita growth ay puwede itong pumalo ng lampas sa ,000, in a space of four years between 2015 and 2019,” he added.

The country’s highly competent, English-speaking, globally competitive work force, if cared well, could be a major contributor to the economy for as long as 40 years, Coloma said.

Asked about the kind of jobs that await these young people, Coloma said the Aquino government is moving from service-oriented jobs to manufacturing. In the 2014, national budget, the administration has concrete programs to widen the country’s manufacturing base.

Contained in the 2014 national budget are programs that focus on the agricultural sector that include food processing and coconut diversification, he said noting that these areas could create a stronger multiplier effect.

“Yun pong sa manufacturing, bukod doon sa ating inherent strength na sa kasalukuyan sa service sector where we are regarded as the BPO capital dahil nga po sa desirable characteristics ng ating workforce.”

The government is also working hard to match the skills of young workers to the country’s educational system, he said.

“Kaya nga ang kasabay doon sa ating economic development efforts ay ang pagsisikap sa educational sector na magkaroon ng closer match between the job opportunities at ang skill set na ipo-produce ng ating educational system,” Coloma said.

“Tuwing magkakaroon ng job fair, ‘yon pong sponsored ng DOLE, marami pa pong hard-to-fill jobs na tinuturing. Kaya ito po ay ina-address, hindi lamang doon sa aspeto ng higher education, pero doon din sa aspeto ng technical-vocational sector,” he said.

The Technical Educations and Skills Development Authority (TESDA) has programs to prepare the skills of young workers for the needs of the industries.

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