Foreign direct investments that the Philippines secured last year would generate more employment, said the Department of Trade and Industry.
The Philippines and Singapore will also address how MSMEs in emerging markets continue to be underserved.
The ASEAN SME Academy 2.0 platform provides training and mentorship to MSMEs by featuring localised courses on topics of interest.
The Philippines labour department highlighted that it would be wrong for workplaces to start getting complacent against COVID-19.
The wage subsidies will help stimulate consumer spending, which could help the government in its efforts to revive the economy.
The Regional Tripartite Wages and Productivity Board has highlighted that the trade union’s request for a blanket pay hike is not within its jurisdiction.
The Philippine Venture Capital Report 2022 said local startups raised US$1.03 billion for funding in 2021, a 179% increase year-on-year.
To reduce job mismatches, the government needs to have in place more training programmes so that workers can keep pace with digital transformation.
They have proposed a 50%-75% office capacity and the implementation of a reduced workweek while proceeding with a work-from-home arrangement.
The percentage of businesses planning on an expansion in the second quarter this year has dropped to 20.8% from 23.2% in the previous survey.
One fifth of business processing outsourcing (BPO) workers would rather quit their jobs than return to offices.
In a move that could potentially herald the 4-day work week, the Civil Service Commission (CSC) will be issuing a policy for flexible work.
Several major business groups and companies are backing the government’s move to get employees to return to their workplaces.
The unemployment rate in January was 6.4%, the lowest in two years or since the 5.3% in January 2020 before the pandemic began.
Instead of the government issuing a blanket four-day workweek mandate, companies will decide whether to adopt this practice themselves.
A wage subsidy worth P24 billion (US$459 million) has been proposed to counter the impact of rising oil prices on workers.
MSMEs generally are risk-averse to loans, and many belong to the informal sector, or are unbanked, said the representative of Marikina City.
Labour secretary Silvestre Bello III has ordered a nation-wide review of minimum wage as oil prices continue to spike globally.
In conjunction with the National Economic Recovery Strategy, the Employers Confederation of the Philippines has pledged to create 1 million jobs.
The International Labour Organisation (ILO) has urged the Philippine government to better address trade union rights violations in the country.
The Asian Development Bank (ADB) has said the unprecedented return of overseas Filipino workers (OFWs) is creating growing challenges.
If House Bill 10717 is enacted, it could be against the law for employers to contact their staff outside working hours.
Although the country sees some signs of recovery, the situation still remains “very unstable”, said a labour official.
Labour group Partido Manggagawa (PM) has urged companies to raise wages of low-paid workers faster than those who earn higher salaries.
Sen. Leila De Lima has called on Congress to pass a law that mandates paid leave of five days for workers who contract COVID-19.
The proposed bill will penalise employers who intrude on workers' "rest hours" and to prevent tasks and meetings from encroaching on personal time.
Employers are encouraged to grant paid leave for workers who have contracted COVID-19 and need to be quarantined.
Some 200,000 formal sector workers affected by pandemic-led restrictions in Metro Manila and other regions are set to receive P5,000 in cash aid.
The government is focusing on sector development, identifying skills that are in demand and needed by industries as they adapt to pandemic-driven changes.
Government agencies also urged companies to provide sufficient assistance for individuals who are undergoing quarantine and isolation.
