President Bongbong Marcos signed Republic Act No. 12063, known as the Enterprise-Based Education and Training (EBET) Framework Act, today, November 7.
The EBET Framework Act aims to address the country’s lack of formal training and job-skills mismatches.
Marcos stated that the EBET will align training programs with the technology-driven industry and labor market needs by fostering public-private partnerships.
“That is why it is very important to synchronize our training and our skills training with the actual requirements of industry and the labor market. And that’s why the partnership between private and public is critical,” Marcos said in a statement released by the Presidential Communications Office.
“Because if we are successful in doing this, before a student or a trainee is finished with their training, there already is an available space in the labor market waiting for them, specifically defined by industry and saying what we need are workers with these specific skills,” he added.
The EBET Framework Act will integrate various programs into one framework, aimed at streamlining and enhancing the effectiveness of enterprise-based training initiatives. It will also expand training opportunities for Filipinos, helping them become more globally competitive.
The newly signed law is said to complement the Trabaho Para sa Bayan Act, which aims to address unemployment, underemployment, and other challenges in the labor market.
Meanwhile, companies participating in EBET will benefit from increased tax incentives, with income tax deductions on training expenses rising from 50% to 75% by 2028.
