Republic of the PhELppines
HOUSE OF REPRESENTATIVES
Quezon City
NINETEENTH CONGRESS
Second Regular Session
HOUSEBILLNo.       8642
Introduced by Representative Jaime R. Fresnedi
EXPLANATORY NOTE
This bill proposes to introduce financial literacy and entrepreneurship as separate core
subj ects in the school curriculum, alongside Mathematics, Science, Communication and others.
By teaching financial literacy and entrepreneurship at an early age,  schools can foster and
further develop a generation of young students who have already nurtured skills in leadership
critical thinking and problem solving.
The importance of entrepreneurship and fmancial literacy education in preparing young
individuals to cope with economic challenges in life cannot be overemphasized. It is therefore
essential to equip them with the adequate knowledge, skills, competencies and right attitude in
this respect.
Moreover,  the  development  of financial  literacy  and  entrepreneurship  among  our
students  will  further bolster micro,  small  and  medium  enterprises  (MSME)  development.
MSMEs  serve  as  the  backbone  of our  economy.  According  to  the  Philippine  Statistics
Authority OSA), the 2021 Updated List of Establishments show that "es/¢b/i.Ffe"e#fs wz.ffe fofa!/
emplayment Of 1 to 9 (Micro) dominated the count Of establishments with 977,670 comprising
90.5%. The combined count Of establishmer[ts with 10 to 99 (Small),100 to 199 (Medium), and
200 and over (Large) total employment was only  102,968 or 9.5% Of the total establishmehis
in operation by MSME. "
It is therefore best if we invest in our young hopefiuls today and in their education. By
giving  them  the  right  access  to  a  more  holistic  approach  to   education  that  is  more
comprehensive in equipping them with the resilience needed for their future, we then assure
them of their futures as possible business persons.
In view of the foregoing, the immediate passage of this bill is earnestly sought.
Lone District, Muntinlupa City


Republic of the Philippines
HOUSE OF REPRESENTATIVES
Quezon City, Metro Manila
NINHTEENTH CONGRESS
Second Regular Session
HOUsEB|LLNo.8642
Introduced by Representative Jaime R. Fresnedi
AN ACT
REQUIRING THE   INCLUSION OF           FINANCIAL           LITERACY          AND
ENTREPRENEURSHIP AS  SEPARATE CORE SUBJECTS IN THE JUNIOR AND
SENIOR HIGH SCHOOL CURRICULA OF THH K-12 PROGRAM
Be  it  enacted by the  Senate  and the  House  Of Representatives  Of the  Philippines  in
Congress assembled:
SECTION  1.  Section  4  of Republic Act No.  10670  is  hereby  amended  to  read  as
follows:
"SEC. 4. Youth Entrepreneurship and Financial Literacy Program. -The
promotion  of youth  entrepreneurship  and  financial  literacy  program  shall  be
inculcated in all  levels  of education nationwide.  Consistent with Section 5  of
Republic Act No.10533, or the  "Enhanced Basic Education Act of 2013", the
Department of Education (DepEd) shall ensure that the K to 12 curriculum shall
be supported by programs on entrepreneurship and financial literacy: Provided,
That at the elementary level, the programs referred to shall principally focus on
the ideal values necessary to become successful entrepreneurs.
THERE     SHALL    BE     SEPARATE     CORE     SUBJECTS     0N
FINANCIAL LITERACY AND ENTREPRENEURSHIP IN THE JUNIOR
AND SENIOR YEAR CURRICULA 0F BOTH PUBLIC AND PRIVATE
SECONDARY SCHOOLS NATIONWIDH.
The   Commission   on   Higher   Education   (CHED)   and   the   Technical
Education   and   Skills   Development  Authority   (TESDA)   shall   ensure   the
promotion of programs on entrepreneurship and financial literacy. "
SEC.  2. Deve/ap"e77/ a/SwZ)y.ec/ Co#/e72/.  -Section 6 of Republic Act No.  10679  is
hereby amended to read as follows:
"SEC. 6. Duties of the EEC. -The EEC shall:
(a)    Formulate a national plan of action for the implementation of this Act;
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(b)    Study and standardize all current programs of schools and institutions
on entrepreneurship and financial literacy ;
(c)    CONDUCT  [R]researchES  [cunent]   ON  government  efforts  in
[foreign]  OTHER countries with the end view of applying relevant
AND BEST practices in our education system;
(d)     Provide  assistance,  training,  and  support to  ensure  coherence  and
clear progression of the objectives of this Act, namely:
(1)   Provide     information     on     available     government     and
nongovemment assistance and training programs that may be
availed  of  by  students  for  further  training  and  possible
entrepreneurial and financial ventures;
(2)   Develop   mentoring   and   coaching   programs   for   young
entrepreneurs   in   coordination   with   eligible   entities   to
facilitate       sharing       of      technical       knowledge      and
skills/technology transfer;
(3)    Set up enterprise incubation laboratories and creative spaces
in  schools  and  communities  in  coordination  with  eligible
entities  to  encourage  enterprise  creation  and  development;
and
(4)   Coordinate  with  the  Department  of Agriculture  and  Land
Bank of the Philippines to develop lending and other support
pro gran s           spec ific al ly           for           agriculture -re 1 ated
entrepreneurship activities;  [and]
(H)  CONDUCT  A  MULTI-SHCTORAL  CONSULTATION  WITH
EDUCATORS    FROM    PUBLIC    AND    PRIVATE    HIGH
SCHOOLS,  MEMBERS  0F  THE  NATIONAL  CHAMBERS
OF        C OMMERCE       AND        IND U STRY,        LHADING
ENTREPRENEURS AND THE PUBLIC AT LARGE FOR THE
PURPOSE     OF    DETHRMINING    THE    APPROPRIATE
CONTENT AND  SCOPE  OF THE  FINANCIAL LITERACY
AND ENTREPRENEURSHIP SUBJECTS; AND
I(e)I (F) Exercise such other powers as may be necessary to cany out the
purposes of this Act. "
SEC.  3. Jmp/eme77fz.7cg JZ#/es ¢77d jiegw/cr/z.o#s.  -The  Secretary of the Department of
Education shall formulate the rules and regulations necessary for the effective implementation
of this Act.
SEC. 4. Sepczrczz)z./z.ty C/¢wse.  - If, for any reason, any part or provision of this Act is
declared  invalid  or  unconstitutional,  the  remaining  parts  or  provisions  not  affected  shall
remain in full force and effect.
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SEC.  5. Repec}/z.#g C/cz2/se.  -All lawso ordinances, rules, regulations, other issuances
or  parts  thereof,  which  are  inconsistent  with  this  Act,  are  hereby  repealed  or  modified
accordingly.
SEC. 6. EJLorec/z.w.ty. -This Act shall take effect fifteen (15) days after its publication in
the Official Gazette or in a newspaper of general circulation.
Approved,
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