Aquino: Investors to bring ‘more jobs’

Employment will rise in the Philippines as a result of investors being drawn to his administration’s adherence to good government, President Aquino said on Thursday.

He told the National Career Advocacy Congress at the Diamond Hotel in Manila that in 2011, approved domestic and foreign investments in the country increased by 37.6 percent to P746.8 billion, from P542.7 billion in 2010, and created 194,917 new jobs last year based solely on the increase in investments.

“We are expecting more jobs to be created in the coming years,” the President said, adding that one company he did not name has “expressed its readiness to invest over P2 trillion in the Philippines over the next five years.”

He said his administration’s pursuit of good governance and reforms has “clearly” made the country a preferred site for investments.

The President added that the total number of new jobs created in the country in 2011 was about 1.1 million. But, he said, this number would not be enough since a million new workers join the labor force every year.

According to Mr. Aquino, the number of jobs in the country would substantially improve as the world economy improves.

He said the foundation of any profession is strong education, the reason why his administration has been investing heavily in the education sector.

The President added that when he attended the 18th anniversary of the Commission on Higher Education last week, he made special mention of the state of nursing students who pay much more than ordinary students to get their degree, but their employment is not assured.

He said other students who had pursued similarly popular courses ended up unemployed after graduation as well.

“This is the problem that is expected to be addressed in this event,” Mr. Aquino added. He said the government-initiated National Career Advocacy Congress “serves as a platform of plans and programs for the future of the Filipino youth.”

The President cited the Industry Career Guides program of the Department of Labor and Employment that provides information on the most developed industries in the country to help students take courses that would assure them of employment upon graduation. –Mia M. Gonzalez / Reporter, Businessmirror