HUMAN CAPITAL INVESTMENT KEY TO ECONOMIC GROWTH - ANGARA

Senator Edgardo J. Angara, chair of the Senate Committee on Education, Arts and Culture, reiterated the importance of human capital investment through basic education and skills training in achieving inclusive growth and development.

Angara said the present administration's thrust of improving the country's education system is a good sign that we are recognizing the vital role of education, research and science and technology (S&T) in building a productive and competitive labor force.

The National Economic and Development Authority (NEDA) recently announced that one of the major items in the government's platform is investing in human capital, especially the youth that comprise a significant proportion of the Philippine population.

"While labor productivity in many developed economies decline due to their aging population, industries -- which know no nationality -- would be driven to turn to a younger, more productive labor force," said Angara.

"That's why we need to take care of our people especially the youth. There's a need to highlight the importance of infrastructure and human capital development: Education, health and sanitation, environment, food production, and S&T as drivers of the nation's growth," he said.

The Philippine Development Plan: 2011-2016 defines inclusive growth as a rapid and sustained socioeconomic development that contributes to employment generation and poverty reduction. This is achieved through massive investments in infrastructure and human capital as well as putting in place measures that support good governance.

Angara said the implementation of the Universal Kindergarten Education Act as part of the extended K-12 Basic Education Curriculum is an important step towards this goal. However, the government must also address the shortage of teachers and classrooms throughout the country.

Angara is the principal author and sponsor of the Enhanced Basic Education Act (SBN 3286).