WHEREAS, the National Youth Commission (NYC) pursuant to its mandate under R.A. 8044, series of 1995, has formulated the Youth Entrepreneurship Program which aims to develop the entrepreneurial skills of the youth and encourage them to participate and organize business enterprises;

WHEREAS, among the targets in the Ten-Point Agenda of the administration is the creation of three million entrepreneurs;

WHEREAS, the private business sector plays a critical role in ensuring the success of the programs on entrepreneurship;

WHEREAS, the implementation of the Youth Entrepreneurship Program can be strengthened by the participation of the private business sector;

WHEREAS, there is a need to amend Executive Order No. 485 to institutionalize the participation of the private business sector in the Youth Entrepreneurship Program;

WHEREAS, Section 31, Chapter 10, Title lll, Book III of Executive Order No. 292 (Administrative Code of 1987), grants to the President the continuing authority to reorganize the administrative structure of the Office of the President.

NOW, THEREFORE, I GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. Sections 1, 3 and 5 of Executive Order No. 485, series of 1998, are hereby amended to read as follows:

"SECTION 1, Approval of the Youth Entrepreneurship Program (YEP). The YEP as formulated by the NYC is hereby approved for implementation. The Program, which is envisioned to develop the entrepreneurial skills of the youth hereby contribute to nation-building, shall the following components:

1. Entrepreneurship Education, which involves the immersion of the youth in the principles and ideas around the character, psychological and attitudinal demands of entrepreneurship, as well as the provision of technical assistance such as basic skills training on the preparation/development of business plans, starting and managing business enterprises and other management efficiency enhancement modules;
   
2. Credit Assistance and Lending, which involves the provision of information on available credit and lending facilities in government agencies and the system/mechanism to access available resources for viable and profitable business proposals;
   
3. Role Modeling and Mentoring, which involves the exposure of the youth to personalities in the business community who are worth emulating; establishment of a mentor-apprentice relationship between the Youth and the Agency, local business club or business personality; organizing meetings and activities; making a dedicated web-site that can provide venues for interactions; and giving the youth insight on market trends, business opportunities and new technologies that will improve products, services and business operations;
   
4. Business Plan Development and Training, which involves the provision of technical assistance such as basic skills training on the preparation/development of business plans, starting and managing business enterprises, continuing entrepreneurship education and competence development activities aimed at improving business operations;
   
5. Market Syndication and Linkaging, which will link the young entrepreneurs with the market through the organization of trade fairs and/or business matching activities; and
   
6. Business Information Network, which involves the provision of continuing information assistance to young entrepreneurs concerning market trends, other business opportunities and technologies that will improve products, services and business operations through publications or internet access."
   

"SECTION 3. Composition. The Council shall be composed of the Secretary of the Department of Trade and Industry as Chairman, the Chairperson of the National Youth Commission as Co-Chairman, the Presidential Consultant for Entrepreneurship, representing the private business sector, as Vice Chairman, and senior officers with the rank not lower than Assistant Secretary (or its equivalent) of the following agencies, as members:

1. Department of Labor and Employment;
   
2. Department of Education;
   
3. Department of Social welfare and Development;
   
4. Department of the Interior and Local Government;
   
5. Department of Agrarian Reform;
   
6. Department of Science and Technology;
   
7. Commission on Higher Education;
   
8. Presidential Management Staff;
   
9. Development Bank of the Philippines;
   
10. Land Bank of the Philippines;
    
11. Quedan Rural Credit Guarantee Corporation;
    
12. Livelihood Corporation;
    
13. Technology and Livelihood Resource Center;
    
14. Technical Education and Skills Development Authority;
    
15. Cooperative Development Authority; and
    
16. Small Business Guarantee and Finance Corporation"
    

"SECTION 5. Enrollment of Programs under the YEP.

The members of the Council shall identify and/or develop youth-oriented entrepreneurship programs (consistent with their respective mandates and policies) for enrollment under the Program. These enrolled programs shall be classified along the following major components; Entrepreneurship Education, Credit Assistance and Lending, Role-Modeling and Mentoring, Business Plan Development and Training, Market Syndication and Linkaging and Business Information Network."

SECTION 2. Repealing Clause. All Executive Orders and other issuances or parts thereof, inconsistent with the provisions of this Executive Order, are hereby repealed or modified accordingly.

SECTION 3. Effectivity. This Executive Order shall take effect immediately.

DONE in the City of Manila, Philippines, this 15th day of November in the year of Our Lord, Two Thousand and Five.


By the President:

EDUARDO R. ERMITA
Executive Secretary