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TWENTIETH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session
25 JUL 16 P4 :08
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SENATE
s. No. 672
Introduced by Senator Christopher Lawrence "Bong" T. Go
AN ACT
REQWWNC THE INCLUSION OF FINANCIAL LITERACY AND 
ENTREPRENEURSHIP AS SEPARATE CORE SUBJECTS IN THE JUNIOR AND 
SEN!OR HIGH SCHOOL CURRICULA OF THE K-12 PROGRAM, AMENDING FOR 
THE PURPOSE REPUBLIC ACT NO. 10679, OTHERWISE KNOWN AS THE 
YOUTH ENTREPRENEURSHIP ACT"
EXPLANATORY NOTE
The importance of entrepreneurship education in fostering economic growth and 
development has been recognized by the Philippines as a means of addressing poverty 
and unemployment. Republic Act No. 10679, or "An Act Promoting Entrepreneurship and 
Financial Education Among Filipino Youth," was enacted to promote entrepreneurship 
among young Filipinos by providing programs and services that support the development 
of their entrepreneurial skills and mindset. The law declares a policy of the State the 
promotion of "the sustained development of young Filipinos whose aptitude and skill in 
the field of finance and entrepreneurship shall be encouraged and honed through 
education and specialized training programs."
In 2015, the Global Entrepreneurship Monitor (GEM) indicates that 46% of Filipinos 
have a very positive view of entrepreneurial opportunities in the country.1 The younger
http.//gem-consortium.ns-client.xyz/economy-profiles/philippines/policy
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generation is progressively viewing entrepreneurship as a viable alternative to 
employment for improving their social and economic status.
Entrepreneurship and financial literacy education can help the youth become more 
resilient during economic crises such as the recent global pandemic. By learning how to 
manage finances, and start and manage a business, students can gain a better 
understanding of financial management, including budgeting, cash flow management, 
even marketing, and investment. This can help them become job creators rather than job 
seekers, particularly in times of economic uncertainty.
Although entrepreneurship is already included as one of the applied track subjects 
in the K to 12 curricula, this bill aims to introduce financial literacy and entrepreneurship 
as separate core subjects along with mathematics, science, communication, among 
others. Teaching entrepreneurship at an early age in school can help create a culture of 
innovation and entrepreneurship in the country, enabling students to develop essential
skills such as critical thinking, problem-solving, creativity, communication, leadership, and 
financial literacy.
In view of the foregoing, the approval of this measure is earnestly sought.
SENATOR CHRISTOPHER I^WRENCE "BONG" T. GO


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Ofi';• o. i:,.
TWENTIETH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session
25 JUL 16 P4 :08
SENATE 
S. No. O (
RKEi-’il
>v
Introduced by Senator Christopher Lawrence "Bong" T. Go
AN ACT
REQUIRING THE INCLUSION OF FINANCIAL LITERACY AND 
ENTREPRENEURSHIP AS SEPARATE CORE SUBJECTS IN THE JUNIOR AND 
SENIOR HIGH SCHOOL CURRICULA OF THE K-12 PROGRAM, AMENDING FOR 
THE PURPOSE REPUBLIC ACT NO. 10679, OTHERWISE KNOWN AS THE 
"YOUTH ENTREPRENEURSHIP ACT"
Be it enacted by the Senate and the House of Representatives of the Philippines in 
Congress assembled.
Section 1. Financial Literacy and Entrepreneurship subjects. - 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 ON FINANCIAL LITERACY 
AND ENTREPRENEURSHIP IN THE JUNIOR AND SENIOR YEAR CURRICULA OF 
BOTH PUBLIC AND PRIVATE SECONDARY SCHOOLS NATIONWIDE.


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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. Development of Subject Content - Section 6 of Republic Act No. 10670 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;
(b) Study and standardize all current programs of schools and institutions on 
entrepreneurship and financial literacy;
(c) Research current government efforts in foreign countries with the end view of 
applying relevant 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 nongovernment 
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 programs specifically for 
agriculture-related entrepreneurship activities; [and]


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(E) CONDUCT A MULTI-SECTORAL CONSULTATION WITH EDUCATORS 
FROM PUBLIC AND PRIVATE HIGH SCHOOLS, MEMBERS OF THE NATIONAL 
CHAMBERS OF COMMERCE AND INDUSTRY, LEADING ENTREPRENEURS AND 
THE PUBLIC AT LARGE FOR THE PURPOSE OF DETERMINING THE 
APPROPRIATE CONTENT AND SCOPE OF THE FINANCIAL LITERACY AND 
ENTREPRENEURSHIP SUBJECTS; AND
[(e)] (F) Exercise such other powers as may be necessary to carry out the 
purposes of this Act."
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^ec• Implementing Rules and Regulations. - The Secretary of the Department
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of Education shall formulate the rules and regulations necessary for the effective
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impiementation of this Act.
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SEC 4. Separability Clause. - Any portion or provision of this Act that is declared
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unconstitutional shall not have the effect of nullifying other portions or provisions hereof
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as iong as such remaining portions can still subsist and be given effect in their entirety.
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SEC 5. Repealing Clause. - All laws, ordinances, rules, regulations, other issuances
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or parts thereof, which are inconsistent with this Act, are hereby repealed or modified
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accordingly.
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Effectivity. - This Act shail take effect fifteen (15) days after its publication
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in the Official Gazette or in a newspaper of general circulation.
Approved,