5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

Chamber backs changes to apprenticeship rules

by
December 21, 2023
in Stock
0
Chamber backs changes to apprenticeship rules













REUTERS

THE German-Philippine Chamber of Commerce and Industry (GPCCI) said it supports amendments to the rules governing apprenticeship, citing the need to prolong worker training depending on the skills required.

The chamber expressed its position in the context of greater interest by German companies in establishing or expanding Philippine operations.

GPCCI President Stefan Schmitz said in a statement that results of an internal survey show that German businesses are interested in creating more jobs in the Philippines.

“Aside from continuing to liberalize the Philippine economy for foreign players, we urge the Philippine government to take advantage of this momentum by instituting laws that seek to improve skills development of Filipinos such as amending the outdated apprenticeship system and strengthening enterprise-based education,” Mr. Schmitz said.

According to GPCCI, needed changes to the apprenticeship rules include the elimination of the cap on the duration of apprenticeships.

“The necessary length of training should be determined based on the specific skill or curriculum requirements,” it said.

On Dec. 12, 2022, the House of Representatives passed on third reading House Bill (HB) 6523 which proposes to amend the apprenticeship provisions of the Labor Code of the Philippines.

Section 9 of HB 6523 provides for apprenticeship periods that are “based on the duration of training required in the training plan and on the complexity of the skills to be learned by the apprentices.”

The bill has been consolidated in the committee report by the Senate on Nov. 22 and is among President Ferdinand R. Marcos, Jr.’s priority bills.

The GPCCI said that the Philippines has attracted significant attention among German businesses, which reported raised expectations for improving business (63% of survey respondents).

The Philippines also scored the highest among German multinationals in terms of economic expectations over the next 12 months at 22%.

“Furthermore, the country also led in employment intentions, with 48% of participants planning to hire more within the country in the next 12 months,” GPCCI said.

“Moreover, the Philippines has established dominance in the services sector (as rated by 47% of respondents), which was a pivotal factor for investment,” it added. — Justine Irish D. Tabile

CEDadiantiTyClea

RELATED ARTICLESMORE FROM AUTHOR



MORE STORIES


Previous Post

Palay production estimate downgraded by 0.5% for Q4

Next Post

Jet fuel surcharge to decline in January

Next Post
Jet fuel surcharge to decline in January

Jet fuel surcharge to decline in January

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    PHL mulls listing, tax hike on e-games

    PHL mulls listing, tax hike on e-games

    July 17, 2025
    142 firms qualify for green energy bidding

    142 firms qualify for green energy bidding

    July 17, 2025
    Marcos appoints ERC chairman

    Marcos appoints ERC chairman

    July 17, 2025
    Philippines may negotiate US tariffs down to 10% — BMI

    Philippines may negotiate US tariffs down to 10% — BMI

    July 17, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.