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NINETEENTH CONGRESS OF THE 
)
REPUBLIC OF THE PHILIPPINES 
)
First Regular Session 
)
SENATE
s. No. 2113
23 MRY -3 All ‘-AO
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"
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. Accordingly, 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
1 http://gem-consortium.ns-client.xyz/economy-profiles/philippines/policy
1


younger generation, in particular, 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 current 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 curriculum, 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 LAWRENCE "BONG'' T. GO


srnal'
NINETEENTH CONGRESS OF THE 
REPUBLIC OF THE PHILIPPINES 
First Regular Session
)
)
SENATE
s. No. 2113
23 M^Y -3 All -40
RtCSVED B\
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:
3 
"SEC. 4. Youth Entrepreneurship and Financial Literacy Program. - The
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promotion of youth entrepreneurship and financial literacy program shall be inculcated
5 
in all levels of education nationwide. Consistent with Section 5 of Republic Act No.
6 
10533, or the "Enhanced Basic Education Act of 2013", the Department of Education
7 
(DepED) shall ensure that the K to 12 curriculum shall be supported by programs on
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entrepreneurship and financial literacy: Provided, That at the elementary level, the
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programs referred to shall principally focus on the ideal values necessary to become
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successful entrepreneurs.
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THERE SHALL BE SEPARATE CORE SUBJECTS ON FINANCIAL LITERACY
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AND ENTREPRENEURSHIP IN THE JUNIOR AND SENIOR YEAR CURRICULA
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OF BOTH PUBLIC AND PRIVATE SECONDARY SCHOOLS NATIONWIDE.


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The Commission on Higher Education (CHED) and the Technical Education and
2 
Skills Development Authority (TESDA) shall ensure the promotion of programs on
3 
entrepreneurship and financial literacy."
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Sec. 2. Development of Subject Content. - Section 6 of Republic Act No. 10670
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is hereby amended to read as follows:
6 
"SEC. 6. Duties of the EEC. - The EEC shall:
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(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
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entrepreneurship and financial literacy;
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(c) Research current government efforts in foreign countries with the end view of
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applying relevant practices in our education system;
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(d) Provide assistance, training, and support to ensure coherence and clear
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progression of the objectives of this Act, namely:
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(1) Provide information on available government and nongovernment
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assistance and training programs that may be availed of by students for
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further training and possible entrepreneurial and financial ventures;
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(2) Develop mentoring and coaching programs for young entrepreneurs in
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coordination with eligible entities to facilitate sharing of technical
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knowledge and skills/technology transfer;
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(3) Set up enterprise incubation laboratories and creative spaces in schools
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and communities in coordination with eligible entities to encourage
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enterprise creation and development; and
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(4) Coordinate with the Department of Agriculture and Land Bank of the
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Philippines to develop lending and other support programs specifically for
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agriculture-related entrepreneurship activities; [and]
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(E) CONDUCT A MULTI-SECTORAL CONSULTATION WITH EDUCATORS
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FROM PUBLIC AND PRIVATE HIGH SCHOOLS. MEMBERS OF THE NATIONAL


1 CHAMBERS OF COMMERCE AND INDUSTRY. LEADING ENTREPRENEURS AND
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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."
Sec. 3. Implementing Rules and Regulations. - The Secretary of the Department 
of Education shall formulate the rules and regulations necessary for the effective 
implementation of this Act.
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
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hereof as long as such remaining portions can still subsist and be given effect in their
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entirety.
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SEC 5. Repealing Clause. - All laws, ordinances, rules, regulations, other
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issuances or parts thereof, which are inconsistent with this Act, are hereby repealed or
16 
modified accordingly.
SEC 6. Effectivity. - This Act shall take effect fifteen (15) days after its
18 publication in the Official Gazette or in a newspaper of general circulation. 
Approved,