Luncheon Meeting with Department of Labor and Employment Sec. Silvestre Bello III

Human capital plays a crucial role in the country's economic development and productivity. The Duterte Administrations 7th socioeconomic agenda aims to "Invest in human capital development, including health and education systems, and match skills and training to meet the demand of businesses and the private sector."

In line with the government's efforts towards this objective, progress has been seen in the past years. Latest Philippine Statistics Authority data shows that the Philippines' employment rate has increased to 94.8%, while unemployment and underemployment rates decreased to 5.2% and 15.6%, respectively. In addition to these, the country's young and skilled workforce with a median age of 24 showcases a wide talent pool and is deemed as the Philippines' comparative advantage among regional economies.

A number of reforms remain to be seen to fully realize the economy's potential and enhance workforce capabilities. In this context, join us as we engage with Department of Labor and Employment Secretary Silvestre Bello III to talk about policy and sector updates and priorities, with focus on: (1) Security of Tenure; (2) Endo / short-term employment; (3) Telecommuting Act; (4) Skills development; and (5) Easing restrictions on the employment of foreign nationals.