Taiwan pump priming may save Pinoy jobs

By Ayen infante

02/27/2009

Taiwan’s implementation of its own economic stimulus package and improving prospects in global trade could save the jobs of thousands of Filipino workers who were mostly employed in Taiwanese electronics and semiconductor factories, according to the Manila Economic and Cultural Office (Meco).

Meco resident representative Antonio Basilio gave an assessment this week on the status of overseas Filipino Workers (OFWs) in Taiwan in a joint hearing held by the House committees on economic affairs and on banks and financial intermediaries.

Appearing at the hearing with Labor Secretary Marianito Roque and Labor Attache to Taiwan Rodolfo Sabulao, Basilio said Taiwan with its reliance on exports that contribute 65 percent of it economic output was one of the sectors heavily affected by the global crisis emanating from the US credit crunch.

Before the financial crisis hit, the manufacturing industry of Taiwan employed 160,000 foreign workers with around 100,000 in the electronics industry.

Over 60,000 OFWs worked in different factories mostly in the electronics sector and another 27,000 Filipinos work in the services sector and in other industries which have thus far have not been hit hard by the crisis.

Beginning in the last quarter of last year, Taiwanese exporters were hit hard by order cancelations and began to scale down or even close their operations, resulting in lay offs of OFWs.

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