Senate committee on finance chair Senator Edgardo Angara on Tuesday called for a higher thrust on human capital investment as the nation moves into a new phase of economic competitiveness in combating poverty, hunger, population increase and lack of education.

Angara said human capital investment must be made a priority, particularly by the incoming administration as he cites the vital role of education, research, science and technology in the global arena.

While labor productivity in many developed economies decline due to their aging population, Angara said capital — which knows no nationality — would turn to younger and more productive labor force.

Angara said the Philippines “can and will profit” from the phenomenon by building up its productive labor force “with a little more vision and some measure of political orderliness.”

“That’s why we need to take care of our people. There’s a need to highlight the importance of infrastructure and human capital development: Education, health and sanitation, environment, food production, and science and technology (S&T) as drivers of the nation’s growth,” he said.

Moreover, he said because of the declining fertility rate, most countries face a shrinking labor force and consequently lower economic productivity.

But in the Philippines, “our numbers can be used as its strength, especially when they are well educated, and equipped with the skills that the globalizing world demands,” Angara pointed out.

He further said that the government must start investing by upgrading the education sector to ensure no children would be left behind.