Philippines Business Group ECOP targets 1 million jobs in 2024
In a bold and ambitious move, the Employers Confederation of the Philippines (ECOP) and its affiliated business organizations are setting their sights on a target that resonates with the urgency of economic recovery – creating over a million additional jobs by the year 2024. The ECOP has dubbed this proactive initiative, “Project Jobs,”.
Spearheaded by ECOP President Sergio Ortiz-Luis, Jr., this private sector-led employment-generation drive is poised for collaboration with key entities such as the Philippine Exporters Confederation (PhilExport) and the expansive Philippine Chamber of Commerce and Industry (PCCI). Ortiz-Luis shared insights into the substantial backing from their members and corporate entities, including the influential SM Group. He also serves as president of PhilExport and as a director of PCCI.
Ortiz-Luis acknowledged the vast reach of the ECOP and its business allies. Pragmatically, he noted that, despite representing many companies, they could only directly employ 16 percent of the country’s labour force in the formal sector. This acknowledgement underscores the necessity for a holistic approach. All stakeholders must actively contribute to creating livelihood opportunities and safeguarding the employment status of those already in the workforce.
Beyond the immediate employment objectives, Ortiz-Luis highlighted the critical need for a stable business policy environment. He emphasized the need to reassure investors. Furthermore, he mentioned that policies toward investment must exhibit consistency. Businesses must honour Legitimate contracts in the Philippines. Subsequently, the ECOP President stressed that stable business policy-making is a prerequisite. It encourages local businesses to expand and attracts more foreign investments.
Adding a global perspective, OCEP President, Ortiz-Luis pointed to the foreign visits of President Ferdinand R. Marcos Jr. as instrumental in capturing the attention of multinational executives. According to him, these visits have already succeeded in generating renewed interest in businesses in the Philippines. Ortiz-Luis believes that the next step is to further entice investors by establishing and maintaining sound and stable economic policies.
As “Project Jobs” gains momentum, ECOP and its affiliates position themselves as pivotal players. They steer the nation toward a more robust, job-rich future. This ambitious initiative is rooted in collaboration, stability, and a shared commitment to economic growth. In conclusion, it marks a significant stride in reshaping the employment landscape in the Philippines.
