PRC Conducts Seminar on Competitiveness of the Regulated Professions covered by the Mutual Recognition Arrangements

The Professional Regulation Commission (PRC), in its Trade Related Technical Assistance Project with the European Union, held a Seminar Workshop on the Competitiveness of the Regulated Professions covered by the Mutual Recognition Arrangements on August 20 and 21 at the Holiday Inn, Clark Field Pampanga. 

PRC Chairperson Teresita R. Manzala said that the opportunities offered by the new pattern of World Trade in the form of value chains make it imperative that economies give greater attention to their competitiveness in services. 

Chair Manzala identified eight key factors which appear to have a determining role in services competitiveness, drawing a firm-level evidence from services industry coalitions as well as country case studies undertaken by the World Bank. These include: endowments especially human capital; investments in intangible assets; enabling digital infrastructure; quality of institutions; efficiency of domestic regulation; connectedness with the international market; services in business stakeholder consultation; and policy focus.

The Seminar Workshops on Competitiveness for Nation Building form part of the programs and projects under the Trade Related Technical Assistance (TRTA) Project of the European Union and the Republic of the Philippines, which aims to prepare Filipino professionals for global free trade in professional services.

The two-day seminar workshop was participated by the national presidents of the Accredited Professional Organizations (APOs), the chairmen and members of the various professional regulatory boards and the Commission officials and discussed among other things, the ASEAN MRA and the Rapid Assessment of Profession project, the roadmaps of selected engineering, medical, business and technology professions, the labor market demand for and mobility of Filipino professionals, the career advocacy program as well as the Professional Summit in October.

Source: PRC