The political turmoil across the Arab world has not subsided, and overseas Filipino workers who were forced to return home could have a long wait for new jobs to open up in the same region. Elsewhere in the world economic recovery has been slow and the job market for foreign workers remains tight.
President Aquino has acknowledged the huge contribution of OFWs to the Philippine economy but has also said that the long-term objective should be to provide jobs with decent pay that could make it unnecessary for the majority of Filipinos to look for work outside their own country. The country is running out of needed skills, and these include not only health professionals and engineers but also weather forecasters. The latest casualty of the diaspora is the Ninoy Aquino International Airport, where a big batch of ramp controllers resigned recently after being offered higher pay abroad.
Creating jobs in the Philippines requires creating the environment that will lure job-generating investments. Business process outsourcing is booming, but even this sector wants a better environment for doing business. This week the Joint Foreign Chambers of the Philippines again pushed for legislation to protect data privacy, which the BPO sector in particular wants.
Before adjourning, a committee of the House of Representatives approved the proposed Investments and Incentives Code of the Philippines, which seeks to promote industrial development and make the country more competitive in attracting investments particularly in emerging industries such as biomedical systems and devices. The measure, which includes tax incentives, is among the 23 priority bills of the Aquino administration.
The foreign chambers are still waiting for legislative action on the proposed Cyber Crime Prevention Act and the creation of a separate department for information and communication technology. If President Aquino wants the kind of investment that can create the jobs needed to bring the majority of OFWs home, he should address the concerns of investors and push his congressional allies to do the same with urgency.
To view the original op-ed piece by PhilStar, click here.
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