January 28

President Gloria Macapagal-Arroyo's Speech before the Filipino Community in Dubai, 27 Jan 2008

Mga mahal kong kababayan:

Nakagagalak na makipagpanayam sa inyo ngayong hapon. Salamat sa pagdalo ninyo dito kahit abalang-abala kayo sa trabaho. Alam nating Biyernes ang inyong dayoff, hindi Linggo. Kaya nag-absent pa kayo.

We are in Dubai to meet with many of you, our overseas workers, who live in Dubai and make sure you are getting what you need from our government. Nowhere is foreign policy more important than protecting and advancing the interests of our overseas workers.

Nothing is more important to me and to you and to your families than to protect the rights and working conditions of our overseas workers. And this is one reason why we make every effort to visit various Middle East countries whenever possible.

There are now 400,000 Filipinos in the United Arab Emirates.

UAE today is the second most popular destination of Filipinos bound for the region.

Pero kayo rin ang paborito ng mga taga-Emirates sa lahat ng mga expatriate workers dito. All the Emirati that we met in our trip have the highest regard. Sabi nila kayo ang pinakamagaling, pinakamabait, at pinakamalinis sa lahat ng mga expatriate workers. Congratulations.

I am pleased to note that some Filipino organizations here in the UAE are supporting community-oriented projects back home.

You bring honor to our country and contribute to the strength of RP-UAE ties. Lahat kayo, hindi lang si Ambassador Cabactulan, ay embahador ng Pilipinas sa UAE. We are very proud of you.

Kasama na sa pumupuri sa inyo ang Ruler ng Dubai na kausap ko kaninang tanghali. We thanked him for the fair treatment you receive in the UAE, which has one of the most progressive labor laws and regulations in the region.

Thanks to the labor agreement we concluded with the UAE last April, we now have a bilateral institutional mechanism – a joint committee – where we can tackle OFW concerns.

We honor and value the contribution of our overseas workers for your sacrifice and dedication to your work, your family and your nation.

Salamat sa inyong tulong sa ating pag-unlad sa pamamagitan ng mga remittances ninyo patungong Pilipinas. Remittances from UAE exceeded half a billion dollars last year.

But I am also proud to say that our ambitious economic reforms are helping to break the offshore cycle and supporting an economy that is growing at its fastest pace in 20 years. The economic gains we are seeing now are paving the way to the day when Filipinos no longer need to go abroad for a job and the day when overseas work is just another career option and not the only choice you have to earn a living.

Our economy has reached a new level of maturity and stability with some of the strongest macroeconomic fundamentals in a generation. Seven years ago, no one thought we could get more revenues, cut down on tax cheats and smugglers, and move the stock market. And no one thought we could bring down our budget deficit, lower our national debt and raise employment, but we have. Kaya tuloy lumakas ang piso.

We recognize that the strong peso has reduced the buying power of the remittances sent home by many of our Overseas Filipino Workers, our OFWs. But on the other hand, the peso has helped offset the impact of the rising cost of oil, so transportation fares have not gone up in spite of the high price of oil in the world market. It has reduced the amount of national debt we have to pay and therefore it has reduced interest rates, which helps your families buy homes or start businesses. It has contributed to lowering the price of imports and in the process, kept inflation down.

But to cushion the impact of the strength of the peso, our Administration is addressing the weak dollar very aggressively.

Just before our meeting we met with big Emirati companies employing Filipino workers. This was in line with our efforts to identify ways to mitigate the effects on the stronger peso of your take-home pay.

We met with them to solicit their support for the efforts of our Government to ease the effect of the “strong peso/weak dollar” on the inward remittances of our OFWs to youer families. The employers affirmed their support for the “hedging” program of the DBP (Department Bank of the Philippines), specifically: 1) a pre-agreed exchange rate if the peso further strengthens, but not if the peso weakens; or 2) paying an “insurance fee” to DBP at approximately 1.14% of the amount to be remitted to cover the OFWs at a pre-agreed exchange rate if the peso strengthens, and pay the prevailing market exchange rate if the peso weakens

We are hereby officially launching this hedging facility today.

We are also launching the OFW Bond during this visit to Dubai. We are also working with the Central Bank and the Philippine Stock Exchange to promote financial literacy among OFWs and your families so that you can turn your hard-earned money into working capital and become Overseas Filipino Investors.

We are also launching the program to franchise Tindahang Pinoy so that OFWs can be encouraged to have an additional source of income. Tindahang Pinoy consolidates the products from the participants of our One Town One Product program such as Cornick or Boy Bawang from the North, Broas or some other delicacies or native products from the South, Sarangani Bay sardines from Mindanao, dried mangoes from Cebu. It doesn’t have to be just food. This shall be part of OWWA’s entrepreneurship training for reintegration when you go back home.

Clearly, there will be some impact on all countries of the possible U.S. economic slowdown because of the global significance of the U.S. economy. However, while it could dampen the growth of emerging markets, we are confident that the Philippines will withstand most of the adverse effects of such a development largely because of our improving economic fundamentals.

Moody’s upgraded the Philippines to positive this week for very good reasons: we have the fastest growth in a generation – 7% for 2007, faster than our neighbors in the region.

Today the Philippines is on a path to permanent economic growth and stability. Investments are pouring in and we have created seven million jobs in seven years. And we have a surge in foreign reserves, an all-time high of $34 billion. And the Middle East is taking notice: the Abu Dhabi Investment Authority, Dubai World, Dubai Holdings, Emaar, the Qatari Investment Authority, and Noor of Kuwait believe the Philippines offers one of the best values in Asia for foreign investors and have told us that they will invest in our country.

Our aim is to make our reforms permanent so that our nation is on a sustained path of economic growth and stability. We have turned the economy and for the first time in a generation, we are investing heavily in human and physical infrastructure. Roads, bridges and airports as well as new schools and scholarships are the central building blocks that are necessary for the long term prospects of our citizens

We are committed to building a country that you can come home to with pride. Mabuhay kayo at maraming salamat!

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PGMA launches LandBank OFW cash card in Dubai

DUBAI (via PLDT) - Overseas Filipino workers (OFWs) can now send to their relatives back home their remittances faster, cheaper, and more secure with the use of a LandBank OFW Cash Card.

President Gloria Macapagal-Arroyo launched the OFW Cash Card during her meeting with the Filipino community at the Madinat Jumeirah Hotel here on Sunday.

The President said the card is among the package of government programs in recognition of the contributions and sacrifices of OFWs who bear the brunt of the strong peso.

Finance Secretary and LandBank Chairman Margarito Teves said the launching of the OFW Cash Card is in response to the President's Administrative Order No. 215 directing the Land Bank of the Philippines to provide cheaper remittance services for OFWs.

The LandBank OFW Cash Card is an electronic debit card linked to a Smart cellular phone that would enable telephone companies or banks abroad to offer mobile phone-based remittances.

An overseas worker can load cash to the OFW Cash Card linked to a Smart cellphone and send it electronically to pay bills or transfer funds directly to the OFW Cash Cards of their relatives in the Philippines.

When done, the OFW sender then instantaneously receives on his/her cellphone a confirmation that the money has been transferred.

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PGMA bares new program to ease impact of strong peso on OFWs

DUBAI (via PLDT) - President Gloria Macapagal-Arroyo has announced the launching next month of a new deposit instrument designed to ease the impact of fluctuations in currency rates on the remittances of overseas Filipino workers (OFWs).

The Long-Term Negotiable Certificates of Deposit scheme was presented by the Land Bank of the Philippines as investment opportunities for OFWs during the President's meeting with the Filipino community at the
Madinat Jumeirah Hotel here Sunday.

Land Bank president Gilda Pico said the flotation of the instrument in P20,000 denomination has a five-and-a-half- and 10-year maturity periods, and will yield an annual interest of 6.25 and 6.88 percent, respectively.

An OFW who invests P20,000 in the new deposit instrument will earn an interest of P8,056 in five-and-a-half years and P12,760 in 10 years, Pico said.

She said the launch of the deposit instrument this March will be carried out through a public offering.

In her speech during her meeting with the Filipino community here, the President said the instrument would greatly help OFWs, who bear the brunt of the strong peso, and help them not only as OFWs but overseas Filipino investors (OFIs) as well.

The forthcoming launch of the new deposit instrument is only one of the steps being taken by the President to soften the blow on the OFWs’ income arising from the strong peso.

She has also launched the Tindahang Pinoy under the One Town, One Product program of the Department of Trade and Industry (DTI) that would enable OFWs earn extra income as franchise holders in the sale of quality Filipino products in their host countries.

The Tindahang Pinoy is also part of the Overseas Workers Welfare Administration's (OWWA) entrepreneurship training for OFWs wanting to engage in business when they return to the Philippines.

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Statement of Cabinet Secretary Ricardo I. Saludo
Response of the government to the CBCP statement
We must join hands against age-old ills

We thank our beloved Bishops for their guidance on areas of concern that our national leaders and institutions, the national and local governments, religious communities and other key sectors, and the entire citizenry must join hands to address meaningfully and effectively for the greater good and bright future of our nation.

As the Bishops have rightly observed, these perennial problems have faced our nation for successive political administrations, and solving them demands elevating the common good above private interests. Indeed, in our struggle against these decades-old ills, we must all set aside self-serving agenda to march shoulder to shoulder in the nation’s united effort toward reform and advancement.

It is in this spirit that the President instructed the Cabinet last week to deepen consultations and cooperation with the Bishops and their congregations, with quarterly or more frequent meetings, to better understand and more urgently and effectively address these and other pressing concerns, guided by the President’s directive and in consideration of the statement of the Catholic Bishops Conference of the Philippines.

At the same time, in our common pursuit of truth and understanding in our national affairs, we are constrained to note certain widely acknowledged and reported developments which may help put the CBCP statement in proper context:

 Nine out of every 10 Filipinos feel hopeful about the year ahead, with the proportion of Filipinos who say they are poor at its lowest in 20 years, and those who feel food-poor down to the smallest percentage ever.

 For the third year in a row, more than 90% of businessmen in the Philippines are optimistic — among the highest in the world — after 28 consecutive quarters of growth and the fastest economic expansion in a generation.

 In all the uprisings we have faced, including one that reached the gates of Malacañang, our constitutional democracy has never resorted to martial law, and most Filipinos continue to be satisfied with the way Philippine democracy works.

 Controversial proposals like a national ID system and constitutional amendments have supporters and opponents across the country, and we have processes and institutions, particularly the legislature, to deliberate such issues democratically.

 The President, the Government, and our security forces have all condemned political killings, whether by rebels, politicians or rogue soldiers and police, and we have cooperated with international bodies to end the violence and bring the perpetrators to justice. Our efforts have now brought the killings down by 83%, and our resolute efforts to punish the killers have resulted in speedy arrests in recent incidents.

 The Government has pursued the peace process in various permutations, from formal negotiations with rebel groups, to local peace and security initiatives and amnesties, to bring to a final and lasting end the conflicts that fissure our nation and bloody our land. We welcome the mediation of the Bishops in these peace efforts.

However, we humbly acknowledge that much more needs to be done, especially in bringing to the poor the bounties of our economic expansion and fiscal strength; upgrading education, health, housing, electricity and water services in depressed and far-flung communities; protecting the environment and arresting climate change; and making our democratic processes and government institutions less prone to corruption and abuse, and more responsive to the needs and aspirations of our people.

Hence, we in the Government heed the call of our Bishops to look into ourselves and strive for greater integrity, hard work, compassion, mutual understanding and peace; in common cause with every patriotic Filipino for the welfare and upliftment of our less fortunate sisters and brothers, and the unity and advancement of our beloved Philippines.

For questions and clarifications, pls. call or text Sec. Ricardo L. Saludo at cell no. 0919 3959215

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PGMA launches DBP program that protects OFWs vs strong peso

DUBAI (via PLDT) - President Gloria Macapagal-Arroyo launched here on Sunday the hedging program of the Development Bank of the Philippines (DBP) that would protect the earnings of overseas Filipino workers (OFWs) against fluctuations in foreign exchange rates, particularly by the strong peso.

Speaking before the Filipino community here, the President said she met earlier with top employers in the United Arab Emirates (UAE) who have expressed their willingness to help the OFWs relative to the DBP’s hedging program.

"In order to mitigate the effects of the stronger peso on your take-home pay, we met with the big Emirati employers to solicit their
support for the efforts of our government to ease the effects of the strong peso or weak dollar on your inward remittances to your
families, and the employers affirmed their support," the President said.

The President said the DBP's hedging program for OFWs consists of the voluntary foreign exchange insurance with insurance fees that protect OFWs from a strengthened peso.

In the outright forward, OFWs may sell dollars and buy pesos at a pre-agreed rate that does not require insurance fees.

The President said the DBP has been going around the Filipino communities and would be giving more information about this facility through the Overseas Workers Welfare Administration (OWWA).

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PGMA arrives tomorrow from successful 8-day investment mission to Switzerland, Dubai

President Gloria Macapagal-Arroyo arrives tomorrow (Tuesday) from a successful eight-day diplomatic mission and investment roadshow to Zurich and Davos in Switzerland and Dubai in the United Arab Emirate (UAE).

The Philippine Airlines (PAL) flight PR001 bearing the President and her party is scheduled to land at the Ninoy Aquino International Airport (NAIA) at 8:30 a.m., Ambassador Marciano Paynor Jr. said.

The President left for Davos, Switzerland via Zurich on Jan. 22 to attend the annual World Economic Forum (WEF) of top business and political leaders.

In her first stop in Zurich, the President addressed the Swiss Chamber of Commerce and briefed the SCC members on the attractive business climate prevailing in the Philippines.

The following day, she motored to the ski capital of Davos to attend the conference and met with members of the Philippine International Board of Advisors (IBA) and other world political and economic leaders.

Last Sunday, the President flew to Dubai, where she met with international business leaders and overseas Filipino workers (OFWs) based in the Middle East city.

“We are in Dubai to meet with many of you, our overseas workers, who live in Dubai, and make sure you are getting what you need from our government. Nowhere is foreign policy more important than protecting and advancing the interests of our overseas workers,” the President told the OFWs.

“Nothing is more important to me and to you and to your families than to protect the rights and working conditions of our overseas workers. And this is one reason why we make every effort to visit various Middle East countries whenever possible,” she added.

The UAE, the second most popular destination of Filipinos bound for the Middle East, hosts about 400,000 OFWs.

The President congratulated the UAE-based OFWs for being the favored group of workers in the said country: “Pero kayo rin ang paborito ng mga taga-Emirates sa lahat ng mga expatriate workers dito. All the Emirati that we met in our trip have the highest regard (for you). Sabi nila, kayo ang pinakamagaling, pinakamabait, at pinakamalinis sa lahat ng mga expatriate workers. Congratulations,” she said.

“You bring honor to our country and contribute to the strength of RP-UAE ties. Lahat kayo, hindi lang si (Philippine) Ambassador (to the UAE) Cabactulan, ay embahador ng Pilipinas sa UAE. We are very proud of you,” she said.

In April last year, the Philippines and the UAE inked a labor agreement which serves as a “bilateral institutional mechanism – a joint committee – where we can tackle OFW concerns,” the President said.

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President cites OFWs in UAE for being the favorite of foreign employers

DUBAI (via PLDT) - President Gloria Macapagal-Arroyo paid tribute to the overseas Filipino workers (OFWs) not only for their valuable contribution in shoring up the Philippine economy but also for showcasing the best qualities of the world-class Filipino workforce as Philippine ambassadors in their host countries.

Speaking before the Filipino community here on Sunday, the President said she has been visiting OFW destination countries as part of government policy to protect and advance the interest of OFWs.

Everywhere, the President said host governments and employers, including those in this part of the United Arab Emirates (UAE), have nothing but high praises to Filipino workers overseas.

The President said that OFWs in the Emirates, the second most popular destination of Filipinos bound for the Middle East, are the favorite of foreign employers among the expatriate workers.

"Lahat ng mga Emirate na nakilala natin dito sa ating biyahe, ang taas-taas ng kanilang pananaw sa inyo. Sabi nila sa akin, kayo ang pinakamagaling, pinakamabait, pinakamalinis, kaya congratulations sa inyong lahat," the President said.

"We honor and value the contribution of our overseas workers for your sacrifice and dedication to your work," she said.

The President also noted and thanked that some Filipino organizations based in the UAE are also supporting community-oriented projects back home in the Philippines.

"You bring honor to our country and you contribute to the strength of the ties between the Philippines and the Emirates. Everyone of you is a Philippine ambassador to the UAE and we are very proud of you," the President said.

The President said even Dubai ruler Sheikh Mohammed Bin Rashid Al Maktoum is all but praises for the OFWs here.

The President said she thanked the Dubai ruler for the fair treatment that Filipinos have been receiving here, particularly his support to the bilateral labor agreement inked last April designed to settle the usual problems encountered between OFWs and their employers.

The President also thanked the UAE-based OFWs for their huge remittances that reached half-a-billion dollars last year.

Because of economic reforms and the sacrifices of the people, including OFWs, the President said the “economic gains we are now seeing would soon pave the way for the time when Filipinos no longer need to go abroad to earn a living, and overseas work is just another career option and not the only choice left for the hardworking Filipino.”

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28 JANUARY 2008		.