January 18, 2017, 2:04 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07373 UAE Dirham
1 Philippine Peso = 2.57378 Albanian Lek
1 Philippine Peso = 0.03554 Neth Antilles Guilder
1 Philippine Peso = 0.31799 Argentine Peso
1 Philippine Peso = 0.02683 Australian Dollar
1 Philippine Peso = 0.03594 Aruba Florin
1 Philippine Peso = 0.04015 Barbados Dollar
1 Philippine Peso = 1.59024 Bangladesh Taka
1 Philippine Peso = 0.03683 Bulgarian Lev
1 Philippine Peso = 0.00756 Bahraini Dinar
1 Philippine Peso = 33.69343 Burundi Franc
1 Philippine Peso = 0.02008 Bermuda Dollar
1 Philippine Peso = 0.02866 Brunei Dollar
1 Philippine Peso = 0.13752 Bolivian Boliviano
1 Philippine Peso = 0.06466 Brazilian Real
1 Philippine Peso = 0.02008 Bahamian Dollar
1 Philippine Peso = 1.3697 Bhutan Ngultrum
1 Philippine Peso = 0.21257 Botswana Pula
1 Philippine Peso = 401.92732 Belarus Ruble
1 Philippine Peso = 0.03975 Belize Dollar
1 Philippine Peso = 0.02636 Canadian Dollar
1 Philippine Peso = 0.02027 Swiss Franc
1 Philippine Peso = 13.25216 Chilean Peso
1 Philippine Peso = 0.13857 Chinese Yuan
1 Philippine Peso = 59.08452 Colombian Peso
1 Philippine Peso = 10.94158 Costa Rica Colon
1 Philippine Peso = 0.02008 Cuban Peso
1 Philippine Peso = 2.08352 Cape Verde Escudo
1 Philippine Peso = 0.51054 Czech Koruna
1 Philippine Peso = 3.5802 Djibouti Franc
1 Philippine Peso = 0.14047 Danish Krone
1 Philippine Peso = 0.93074 Dominican Peso
1 Philippine Peso = 2.20173 Algerian Dinar
1 Philippine Peso = 0.29553 Estonian Kroon
1 Philippine Peso = 0.37844 Egyptian Pound
1 Philippine Peso = 0.45091 Ethiopian Birr
1 Philippine Peso = 0.01889 Euro
1 Philippine Peso = 0.04186 Fiji Dollar
1 Philippine Peso = 0.01668 Falkland Islands Pound
1 Philippine Peso = 0.01668 British Pound
1 Philippine Peso = 0.08489 Ghanaian Cedi
1 Philippine Peso = 0.88376 Gambian Dalasi
1 Philippine Peso = 186.70949 Guinea Franc
1 Philippine Peso = 0.15123 Guatemala Quetzal
1 Philippine Peso = 4.106 Guyana Dollar
1 Philippine Peso = 0.15569 Hong Kong Dollar
1 Philippine Peso = 0.45774 Honduras Lempira
1 Philippine Peso = 0.14162 Croatian Kuna
1 Philippine Peso = 1.28749 Haiti Gourde
1 Philippine Peso = 5.79984 Hungarian Forint
1 Philippine Peso = 267.35595 Indonesian Rupiah
1 Philippine Peso = 0.07659 Israeli Shekel
1 Philippine Peso = 1.3682 Indian Rupee
1 Philippine Peso = 23.7101 Iraqi Dinar
1 Philippine Peso = 649.86949 Iran Rial
1 Philippine Peso = 2.28267 Iceland Krona
1 Philippine Peso = 2.57599 Jamaican Dollar
1 Philippine Peso = 0.01421 Jordanian Dinar
1 Philippine Peso = 2.28719 Japanese Yen
1 Philippine Peso = 2.08292 Kenyan Shilling
1 Philippine Peso = 1.39468 Kyrgyzstan Som
1 Philippine Peso = 80.11845 Cambodia Riel
1 Philippine Peso = 9.27525 Comoros Franc
1 Philippine Peso = 18.06866 North Korean Won
1 Philippine Peso = 23.72214 Korean Won
1 Philippine Peso = 0.00613 Kuwaiti Dinar
1 Philippine Peso = 0.01646 Cayman Islands Dollar
1 Philippine Peso = 6.68681 Kazakhstan Tenge
1 Philippine Peso = 163.9229 Lao Kip
1 Philippine Peso = 30.21682 Lebanese Pound
1 Philippine Peso = 3.01144 Sri Lanka Rupee
1 Philippine Peso = 1.82694 Liberian Dollar
1 Philippine Peso = 0.27103 Lesotho Loti
1 Philippine Peso = 0.06121 Lithuanian Lita
1 Philippine Peso = 0.01246 Latvian Lat
1 Philippine Peso = 0.02868 Libyan Dinar
1 Philippine Peso = 0.20159 Moroccan Dirham
1 Philippine Peso = 0.40323 Moldovan Leu
1 Philippine Peso = 1.15559 Macedonian Denar
1 Philippine Peso = 27.06284 Myanmar Kyat
1 Philippine Peso = 49.94981 Mongolian Tugrik
1 Philippine Peso = 0.16036 Macau Pataca
1 Philippine Peso = 7.12387 Mauritania Ougulya
1 Philippine Peso = 0.72014 Mauritius Rupee
1 Philippine Peso = 0.30797 Maldives Rufiyaa
1 Philippine Peso = 14.38807 Malawi Kwacha
1 Philippine Peso = 0.43213 Mexican Peso
1 Philippine Peso = 0.08957 Malaysian Ringgit
1 Philippine Peso = 0.27209 Namibian Dollar
1 Philippine Peso = 6.32403 Nigerian Naira
1 Philippine Peso = 0.58975 Nicaragua Cordoba
1 Philippine Peso = 0.17069 Norwegian Krone
1 Philippine Peso = 2.1843 Nepalese Rupee
1 Philippine Peso = 0.02826 New Zealand Dollar
1 Philippine Peso = 0.00773 Omani Rial
1 Philippine Peso = 0.02008 Panama Balboa
1 Philippine Peso = 0.06745 Peruvian Nuevo Sol
1 Philippine Peso = 0.06333 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.10359 Pakistani Rupee
1 Philippine Peso = 0.08276 Polish Zloty
1 Philippine Peso = 116.05701 Paraguayan Guarani
1 Philippine Peso = 0.0731 Qatar Rial
1 Philippine Peso = 0.08481 Romanian New Leu
1 Philippine Peso = 1.19264 Russian Rouble
1 Philippine Peso = 16.31379 Rwanda Franc
1 Philippine Peso = 0.07528 Saudi Arabian Riyal
1 Philippine Peso = 0.15698 Solomon Islands Dollar
1 Philippine Peso = 0.26272 Seychelles Rupee
1 Philippine Peso = 0.12864 Sudanese Pound
1 Philippine Peso = 0.17904 Swedish Krona
1 Philippine Peso = 0.02867 Singapore Dollar
1 Philippine Peso = 0.01668 St Helena Pound
1 Philippine Peso = 0.44581 Slovak Koruna
1 Philippine Peso = 146.29592 Sierra Leone Leone
1 Philippine Peso = 10.96165 Somali Shilling
1 Philippine Peso = 462.93516 Sao Tome Dobra
1 Philippine Peso = 0.17511 El Salvador Colon
1 Philippine Peso = 10.33889 Syrian Pound
1 Philippine Peso = 0.27216 Swaziland Lilageni
1 Philippine Peso = 0.7113 Thai Baht
1 Philippine Peso = 0.04658 Tunisian Dinar
1 Philippine Peso = 0.04632 Tonga Pa'ang
1 Philippine Peso = 0.07556 Turkish Lira
1 Philippine Peso = 0.1345 Trinidad Tobago Dollar
1 Philippine Peso = 0.63521 Taiwan Dollar
1 Philippine Peso = 44.48906 Tanzanian Shilling
1 Philippine Peso = 0.5529 Ukraine Hryvnia
1 Philippine Peso = 72.37502 Ugandan Shilling
1 Philippine Peso = 0.02008 United States Dollar
1 Philippine Peso = 0.57519 Uruguayan New Peso
1 Philippine Peso = 64.9468 Uzbekistan Sum
1 Philippine Peso = 0.20026 Venezuelan Bolivar
1 Philippine Peso = 453.06163 Vietnam Dong
1 Philippine Peso = 2.15479 Vanuatu Vatu
1 Philippine Peso = 0.05167 Samoa Tala
1 Philippine Peso = 12.38747 CFA Franc (BEAC)
1 Philippine Peso = 0.05421 East Caribbean Dollar
1 Philippine Peso = 12.49508 CFA Franc (BCEAO)
1 Philippine Peso = 2.24312 Pacific Franc
1 Philippine Peso = 5.01706 Yemen Riyal
1 Philippine Peso = 0.27219 South African Rand
1 Philippine Peso = 104.1859 Zambian Kwacha
1 Philippine Peso = 7.26561 Zimbabwe dollar

‘Skills challenge’ seen with free flow of Asean professionals

BEGINNING 2016, professionals from ASEAN countries will have greater mobility to work within the ASEAN Economic Community (AEC).

While experts do not foresee massive displacement of Filipino workers, they warn of a “skills challenge” that needs to be addressed through a strengthened educational system and professional regulation.
 
The Philippines as labor recipient

The entry of foreign professionalsactually presents advantages for the Philippine labor market, according to Director Dominique Tutay of DOLE’s Bureau of Local Employment. She said foreigners bring new technologies and management systems that would raise professional standards, especially in the education and information technology (IT) sectors. “When entry of foreign nationals is restricted, acquisition of knowledge also becomes limited. To eliminate intellectual inbreeding, we need to attract foreign professors who can teach post-graduate studies. We also noticed that applications for alien employment permits are mostly in IT, since companies claim there is an absence of Filipino specialists,” she said.

Entry of foreign professionals is currently prohibited by Philippine laws without a special permit to practice profession or unless allowed by reciprocity clause. The ASEAN Mutual Recognition

Arrangements (MRAs), however, allow freer movement of professionals by standardizing regulations and procedures for employment.

So far, the ASEAN countries have signed MRAs for seven professions .

Tutay did not totally discount the possible displacement of local workers, but she said there may only be a few affected workers becauseFilipinos are highly competitive.

“Services of foreign professionals are usually needed if their skills are not locally available. If some companies hire them even if there are Filipino talents, this might engender ill feelings and negative reaction from local practitioners,” said Tutay.
 
The Philippines as labor sender

Experts from the Philippine Institute for Development Studies (PIDS), however, noted that the Philippines is not a labor recipient but a sender of mostly unskilled workers.

“Migration to other countries is not dominated by professionals and our MRAs cover only seven professions,” said PIDS Research Fellow Aniceto Orbeta.

PIDS President Gilberto Llanto said that countries with aging populations, like Thailand, will welcome workers from sending countries, like the Philippines, and this will benefit the latter through remittances.

“But in the future, this can be reversed. With sustained economic growth and strengthened manufacturing and services, Filipino workers may choose to stay in the country,” said Llanto.
 
‘Skills challenge’ and social protection

With the expected technological and production shifts in regional integration, PIDS Research Fellow Ramonette Serafica said Filipino workers will face a “skills challenge.”

“Across all industries, shortage of applicants with the right competencies is the biggest recruitment challenge by our domestic employers. The policy response should always be to ensure that local workers have the right skills set,” said Serafica.

Tutay agreed, saying that education and training institutions need to revise their curricula to adjust to the labor market demand not only within the country but of the ASEAN.

The labor official cited the following initiatives that will prepare the labor market: 

•     Skilled Occupational Shortage List (SOSL), a “positive list” of occupations with short supply of local workers and where entry of foreign experts are crucial, as identified by industry and labor groups, and the government;

•     Philippine Qualifications Framework (PQF), a national policy that harmonizes the needed qualifications and procedures in employing foreign professionals, in line with the ASEAN Qualifications Reference Framework (AQRF);

•     Philippine Services Coalition (PSC), a multisectoral working group revived to develop and implement a strategy for promoting Philippine services in the global markets; and

•     Pending legislation that liberalizes the entry of foreign professionals. Even with strengthened educational system and professional regulations, there are still workers who are not equipped for the competitive labor market. “They are easily laid off, bypassed, or trapped in low-paying jobs.

In this respect, social protection schemes will be necessary to temper market aberrations,” Llanto said.

Tutay said safety net programs are already in place for Filipinos affected by the integration. However, Orbeta said that the transferability of social protection from one country to another still has to be discussed in ASEAN.

“Besides transfer of financing, the bigger issue is what is creditable,” said Orbeta, referring to social insurance contributions that can be credited to the worker across the region.

While it is not in the AEC Blueprint, establishing a network of social protection agencies for those affected by regional integration is an action item in the ASEAN Socio-cultural Community (ASSC) Blueprint. A committee currently drafts the instrument that recognizes the obligation of both sending and receiving countries in protecting migrant workers’ rights.

Serafica emphasized that not all benefits are automatic with the integration of labor market in ASEAN. “We should continue to invest in training and education to address the country’s present and future skills challenge,” she said.
 
The Asean Economic Community

(AEC) envisions the region to become a significant player in global trade by having a single production and market base within the Asean.

This means that firms and individuals can freely transact business across countries within the region without being subjected to too many country rules, procedures, and duties.

Regional economic integration offers opportunities for the Philippine labor market, if the country eliminates restrictions that currently impede the flow of services and goods.
 
Trade in services

Trade in services is categorized into four modes: (1) cross-border supply, (2) consumption abroad

(3) commercial presence; and (4) temporary movement of people.  By the end of 2015, there will be no restrictions for Modes 1 and 2 as stated in the AEC Blueprint. For Mode 3, a maximum of 70 percent foreign (ASEAN) equity participation is allowed in establishing commercial presence within the region.

Free flow of services is expected to increase investments and create more jobs, said Ramonette Serafica, Research Fellow of the Philippine Institute for Development Studies (PIDS). But for ASEAN suppliers to invest in the Philippines, Serafica said we need to improve infrastructure and eliminate further restrictions to strengthen our competitiveness.

Equity limits, agri policies among the remaining issues on free ASEAN trade Filipinos are strongly positioned to benefit from job opportunities of the ASEAN Economic Community (AEC). But the Philippines has to do more in terms of opening up to foreign investors and enabling an environment for fair competition.

Former Socioeconomic Planning Secretary Cielito Habito, who is Chief of Party of the USAID Trade Related Assistance for Development, said that one of the possible reasons why the share of jobless workers in the Philippines is higher compared with other ASEAN countries is because our neighbors are more open to foreign direct investments (FDI).

Habito noted that the Philippines is the only ASEAN country where the constitution enshrines foreign investment restrictions in certain areas, including public utilities, educational institutions, mass media and advertising.

“For example, Johns Hopkins University is already established in Singapore and Malaysia. We could have

‘We could have attracted investments if only Philippines is more open’ Source: United Nations Conference on Trade and Development attracted similar investments if only the Philippines is more open,” said Habito.

From 2001-2010, FDI to the Philippines averaged only at US$1.5 billion annually. While it doubled to US$3.9 billion in 2013, it continues to lag and the gap between the Philippines and those of other ASEAN countries in terms of FDI has widened .

(http://www.neda.gov.ph/wp-content/uploads/2014/04/NEDA-DevPulse-Vol.-17-No.-1-2nd-Semester)
Rating: 
No votes yet
Twitter icon
Facebook icon
Google icon
LinkedIn icon
Pinterest icon
Reddit icon
Yahoo! icon
e-mail icon

Column of the Day

When a mother dies

By JOSE BAYANI BAYLON | January 18,2017
464 View(s) 0 Comment(s)
‘Unfortunately, in the physical world, there is no forever. And so it is in the realm of loving memories that we will just have to content ourselves.’

Opinion of the Day

Porno websites are blocked!

By DAHLI ASPILLERA | January 18, 2017
392 View(s) 0 Comment(s)
‘PornHub revealed that Filipino viewers, males undoubtedly, spend the longest time watching, among all of its global customers. What a disgusting statistical distinction.’