PSAC backs gov’t efforts in local talent retention

The jobs sector of the Private Sector Advisory Council (PSAC-Jobs) expressed support for President Marcos’ efforts aimed at bolstering local talent retention, enhancing vocational training and streamlining business processes in the Philippines.

“PSAC-Jobs stands behind President Marcos’ strategic approach to retaining healthcare and digital industry workers within the country before they explore opportunities abroad,” the group said in a statement yesterday.

“The proposed scholarship program, with a commitment to domestic work for two to three years, perfectly aligns with PSAC’s recommendation of nurturing local talent for economic advancement,” it added.

In a meeting with the PSAC-Jobs last week, Marcos emphasized the need to retain Filipino talent especially in the healthcare and information technology sectors.

“We have to come up with some kind of strategy wherein, let’s say, you provide scholarships, and then the scholarship agreement includes that you stay three years. After that then they’re free to go,” Marcos said, according to an earlier statement by the Presidential Communications office.

He raised the issue of brain drain in the healthcare and IT sectors as more and more skilled Filipino workers seek greener pastures abroad, leaving the country with a dearth of talent to support those industries.

During the meeting, the PSACJobs recommended the expansion of accelerated certificate programs, particularly through the Technical Education and Skills Development Authority.

“These shorter courses effectively address the demand for skilled workers, empowering individuals for a wide array of employment opportunities,” PSAC-Jobs said.

Echoing concerns about the impracticality of individual training ships for maritime schools, PSACJobs said it is advocating for the exploration of alternative solutions such as shared vessels to ensure quality training while optimizing resources.

“Acknowledging the necessity of simplifying business registration and permitting processes, PSACJobs emphasizes the importance of collaboration among the government, private sector and local government units to implement standardized systems that foster economic growth and attract investments,” the group said.

In addition, PSAC-Jobs said it supports further study on proposed tax rates and incentives for the mining industry, emphasizing the importance of fair taxation policies that balance competitiveness with industry growth and national development.

Moreover, PSAC-Jobs also stressed the significance of studying the implications of the global minimum tax to maintain the Philippines’ competitiveness while ensuring sustainable growth.

“In reaffirming its commitment to collaboration with the government and stakeholders, PSAC-Jobs pledges to actively contribute to driving inclusive growth and prosperity across the Philippines,” the group said.

The PSAC was established by President Marcos to create and strengthen synergies between the private and public sectors.

The council comprises business leaders and experts across six main sectoral groups, including agriculture, digital infrastructure, jobs, healthcare, build-build-build and tourism.