DOLE braces for effect of Dubai crisis

CEBU, Philippines - The Department of Labor and Employment is now preparing for the possible effects of the Dubai meltdown to the Overseas Filipino Workers.

DOLE-7 Regional Director Elias Cayanong said though, it would not have much effect on the remittance flows, it would greatly affect the current demand of employment in the Dubai.

The Dubai debt crisis is expected to affect financial markets as well as the employment rate of OFWs.

Dubai World, the country’s main investment arm, reportedly sought a six-month delay to repay its $60 billion debt.

Cayanong said that they are now preparing for OFW returnees or those that would be coming back to the country after losing their jobs in another country.

But he said that initially, they already have a special window for those working in Dubai. Here, they have livelihood programs set for the returnees as well as trainings that could help them start off in their own communities.

Cayanong said that they will help the returnees get ready and have the chance to be utilized by the local market.

“This not only goes for the OFWs that are affected in Dubai, but also other Filipinos working abroad whose companies or industries are affected by the crisis,” Cayanong said.

He said that the special window could also be availed by those who have returned after suffering from abuse and maltreatment from their employers.

Cayanong said that there may be effects on the inflow of remittances in the region but he said it may not be that big. He added that a big bulk of our remittances from OFWs come from the Western countries.

As of now, Cayanong said that they are more focused now on helping those who will be losing their jobs and to help them and their families bounce back.

Cayanong said most of the Filipinos occupy tourism-related jobs in Dubai as well as construction and skills oriented professions.— AJ de la Torre