The European Chamber of Commerce of the Philippines (ECCP) said yesterday it will hold multisectoral meetings next year in a bid to help the country cope with the international financial crisis and the global economic slowdown.
“If the economy worsens, it would be wise to have a regular exchange of views with all the stakeholders. There is a need now to monitor the economic situation closely. Being prepared is better than scrambling for answers later,” ECCP executive vice president Henry Schumacher said.
Schumacher said they plan to hold a twice-a-month meeting with the Department of Labor and Employment (DOLE) and organized labor groups to continually have a clear assessment of the situation on the corporate level.
Schumacher said they are pushing for a more flexible set of labor rules to avoid a further rise in unemployment. He explained that a change in the work hours would allow companies to keep their people employed, encourage the hiring of contractual employees for long term work, improve competitiveness of operations, and attract foreign companies to outsource in the country.
The American Chamber of Commerce in the Philippines Inc. (AmCham) said the employment problem, which is expected to worsen next year, will be eased if the government opens the country’s service sector.
“This will help solve the unemployment problem,” AmCham executive director Robert Sears said.
He added that the country should allow foreign architects, engineers and doctors to practice in the country.
Sears said this will help jumpstart the industries and attract more foreign firms to locate here.
Contrary to fears that the foreigners would take away jobs from Filipinos, allowing foreigners to practice here would open up more opportunities, Sears said.
“They wont be hiring foreigners for everything. Filipinos are excellent managers,” he noted.
“This is the best time to do it because firms are looking for cheaper destinations,” he added.