Workers union welcomes prospect of $100-billion investments, stresses labor rights

The Federation of Free Workers (FFW) on Monday welcomed the possibility of the Philippines' receiving billions in investments in the next five years, saying these would bolster the local and global technological landscape.

“This investment, coupled with commitments to enhance labor protections, promises substantial economic and social benefits,” the FFW said in a statement.

Last week, Philippine envoy to Washington Jose Manuel Romualdez said that the country could reap in some $100 billion in investments from the United States and Japan in the next five years.

“I can tell you that the figures I have been hearing, this may sound a little bit expanded in a way, but we’re talking about a hundred billion [dollars] in investments in the next five to 10 years,” he said.

"This US investment is a welcome development that promises to rejuvenate our industry and restore and create numerous decent job opportunities for our skilled workforce," FFW vice president Jun Mendoza Ramirez said.

He also noted the challenges of job losses in the sector, stressing labor rights.

“It is important for workers to make the most out of these investments. That would only be possible if we exercise oversight functions, such as in tripartite bodies in ecozones where these new multinational companies are sure to locate,” Ramirez said. 

“Incentives for these new investments, for example, should be allotted to those who respect labor rights—especially the right to unionize,” he added. — Joahna Lei Casilao/BM, GMA Integrated News