November 25, 2017, 11:51 am
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1 Philippine Peso = 0.07254 UAE Dirham
1 Philippine Peso = 2.22066 Albanian Lek
1 Philippine Peso = 0.03521 Neth Antilles Guilder
1 Philippine Peso = 0.34299 Argentine Peso
1 Philippine Peso = 0.02592 Australian Dollar
1 Philippine Peso = 0.03516 Aruba Florin
1 Philippine Peso = 0.03951 Barbados Dollar
1 Philippine Peso = 1.60589 Bangladesh Taka
1 Philippine Peso = 0.03253 Bulgarian Lev
1 Philippine Peso = 0.00746 Bahraini Dinar
1 Philippine Peso = 34.51185 Burundi Franc
1 Philippine Peso = 0.01976 Bermuda Dollar
1 Philippine Peso = 0.02656 Brunei Dollar
1 Philippine Peso = 0.13552 Bolivian Boliviano
1 Philippine Peso = 0.06373 Brazilian Real
1 Philippine Peso = 0.01976 Bahamian Dollar
1 Philippine Peso = 1.27914 Bhutan Ngultrum
1 Philippine Peso = 0.20568 Botswana Pula
1 Philippine Peso = 395.49586 Belarus Ruble
1 Philippine Peso = 0.03947 Belize Dollar
1 Philippine Peso = 0.0251 Canadian Dollar
1 Philippine Peso = 0.01934 Swiss Franc
1 Philippine Peso = 12.5162 Chilean Peso
1 Philippine Peso = 0.13038 Chinese Yuan
1 Philippine Peso = 58.75346 Colombian Peso
1 Philippine Peso = 11.09502 Costa Rica Colon
1 Philippine Peso = 0.01976 Cuban Peso
1 Philippine Peso = 1.82714 Cape Verde Escudo
1 Philippine Peso = 0.42146 Czech Koruna
1 Philippine Peso = 3.5079 Djibouti Franc
1 Philippine Peso = 0.12329 Danish Krone
1 Philippine Peso = 0.94607 Dominican Peso
1 Philippine Peso = 2.26118 Algerian Dinar
1 Philippine Peso = 0.25918 Estonian Kroon
1 Philippine Peso = 0.34868 Egyptian Pound
1 Philippine Peso = 0.53457 Ethiopian Birr
1 Philippine Peso = 0.01656 Euro
1 Philippine Peso = 0.04139 Fiji Dollar
1 Philippine Peso = 0.01481 Falkland Islands Pound
1 Philippine Peso = 0.01481 British Pound
1 Philippine Peso = 0.09104 Ghanaian Cedi
1 Philippine Peso = 0.92967 Gambian Dalasi
1 Philippine Peso = 177.69657 Guinea Franc
1 Philippine Peso = 0.1449 Guatemala Quetzal
1 Philippine Peso = 4.07922 Guyana Dollar
1 Philippine Peso = 0.15426 Hong Kong Dollar
1 Philippine Peso = 0.46501 Honduras Lempira
1 Philippine Peso = 0.12517 Croatian Kuna
1 Philippine Peso = 1.22145 Haiti Gourde
1 Philippine Peso = 5.16041 Hungarian Forint
1 Philippine Peso = 266.6535 Indonesian Rupiah
1 Philippine Peso = 0.0693 Israeli Shekel
1 Philippine Peso = 1.27625 Indian Rupee
1 Philippine Peso = 23.03437 Iraqi Dinar
1 Philippine Peso = 696.06876 Iran Rial
1 Philippine Peso = 2.03813 Iceland Krona
1 Philippine Peso = 2.47234 Jamaican Dollar
1 Philippine Peso = 0.01397 Jordanian Dinar
1 Philippine Peso = 2.20192 Japanese Yen
1 Philippine Peso = 2.03576 Kenyan Shilling
1 Philippine Peso = 1.37669 Kyrgyzstan Som
1 Philippine Peso = 79.67207 Cambodia Riel
1 Philippine Peso = 8.28586 Comoros Franc
1 Philippine Peso = 17.77953 North Korean Won
1 Philippine Peso = 21.38305 Korean Won
1 Philippine Peso = 0.00596 Kuwaiti Dinar
1 Philippine Peso = 0.0162 Cayman Islands Dollar
1 Philippine Peso = 6.52213 Kazakhstan Tenge
1 Philippine Peso = 164.26314 Lao Kip
1 Philippine Peso = 29.7906 Lebanese Pound
1 Philippine Peso = 3.03635 Sri Lanka Rupee
1 Philippine Peso = 2.46247 Liberian Dollar
1 Philippine Peso = 0.27292 Lesotho Loti
1 Philippine Peso = 0.06023 Lithuanian Lita
1 Philippine Peso = 0.01226 Latvian Lat
1 Philippine Peso = 0.02699 Libyan Dinar
1 Philippine Peso = 0.18541 Moroccan Dirham
1 Philippine Peso = 0.34526 Moldovan Leu
1 Philippine Peso = 1.01442 Macedonian Denar
1 Philippine Peso = 26.92612 Myanmar Kyat
1 Philippine Peso = 48.20229 Mongolian Tugrik
1 Philippine Peso = 0.15888 Macau Pataca
1 Philippine Peso = 6.91426 Mauritania Ougulya
1 Philippine Peso = 0.68451 Mauritius Rupee
1 Philippine Peso = 0.30047 Maldives Rufiyaa
1 Philippine Peso = 14.14757 Malawi Kwacha
1 Philippine Peso = 0.36633 Mexican Peso
1 Philippine Peso = 0.0813 Malaysian Ringgit
1 Philippine Peso = 0.27483 Namibian Dollar
1 Philippine Peso = 7.03279 Nigerian Naira
1 Philippine Peso = 0.60352 Nicaragua Cordoba
1 Philippine Peso = 0.16042 Norwegian Krone
1 Philippine Peso = 2.04563 Nepalese Rupee
1 Philippine Peso = 0.02867 New Zealand Dollar
1 Philippine Peso = 0.0076 Omani Rial
1 Philippine Peso = 0.01976 Panama Balboa
1 Philippine Peso = 0.06392 Peruvian Nuevo Sol
1 Philippine Peso = 0.06337 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.07685 Pakistani Rupee
1 Philippine Peso = 0.0697 Polish Zloty
1 Philippine Peso = 111.98933 Paraguayan Guarani
1 Philippine Peso = 0.07516 Qatar Rial
1 Philippine Peso = 0.07679 Romanian New Leu
1 Philippine Peso = 1.15428 Russian Rouble
1 Philippine Peso = 16.47807 Rwanda Franc
1 Philippine Peso = 0.07408 Saudi Arabian Riyal
1 Philippine Peso = 0.15686 Solomon Islands Dollar
1 Philippine Peso = 0.26162 Seychelles Rupee
1 Philippine Peso = 0.13157 Sudanese Pound
1 Philippine Peso = 0.16365 Swedish Krona
1 Philippine Peso = 0.02658 Singapore Dollar
1 Philippine Peso = 0.01482 St Helena Pound
1 Philippine Peso = 0.43868 Slovak Koruna
1 Philippine Peso = 150.13829 Sierra Leone Leone
1 Philippine Peso = 11.00356 Somali Shilling
1 Philippine Peso = 406.44806 Sao Tome Dobra
1 Philippine Peso = 0.17286 El Salvador Colon
1 Philippine Peso = 10.17345 Syrian Pound
1 Philippine Peso = 0.27485 Swaziland Lilageni
1 Philippine Peso = 0.6448 Thai Baht
1 Philippine Peso = 0.04877 Tunisian Dinar
1 Philippine Peso = 0.04522 Tongan paʻanga
1 Philippine Peso = 0.07781 Turkish Lira
1 Philippine Peso = 0.13097 Trinidad Tobago Dollar
1 Philippine Peso = 0.5918 Taiwan Dollar
1 Philippine Peso = 44.15251 Tanzanian Shilling
1 Philippine Peso = 0.53121 Ukraine Hryvnia
1 Philippine Peso = 71.55275 Ugandan Shilling
1 Philippine Peso = 0.01976 United States Dollar
1 Philippine Peso = 0.57349 Uruguayan New Peso
1 Philippine Peso = 159.22561 Uzbekistan Sum
1 Philippine Peso = 0.19705 Venezuelan Bolivar
1 Philippine Peso = 448.93324 Vietnam Dong
1 Philippine Peso = 2.09581 Vanuatu Vatu
1 Philippine Peso = 0.05077 Samoa Tala
1 Philippine Peso = 10.85875 CFA Franc (BEAC)
1 Philippine Peso = 0.05334 East Caribbean Dollar
1 Philippine Peso = 10.88937 CFA Franc (BCEAO)
1 Philippine Peso = 1.96543 Pacific Franc
1 Philippine Peso = 4.93678 Yemen Riyal
1 Philippine Peso = 0.27485 South African Rand
1 Philippine Peso = 102.51877 Zambian Kwacha
1 Philippine Peso = 7.14935 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)
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