MANILA, Philippines – Overseas Filipino workers (OFWs) who stand to lose their jobs in Saudi Arabia as a result of the “Saudization” policy can avail of business loans out of the P2 billion re-integration program of the government.
Philippine Overseas Employment Administration (POEA) administrator lawyer Carlos Cao in yesterday’s “Balitaan sa Aloha Hotel” forum said returning OFWs from Saudi Arabia can secure loans from P300,000 to P2 million with no collateral although a 7.5-percent interest will be charged.
Cao said borrowers will be given training on financial literacy and basic production, marketing, accounting and bookkeeping and the whole gamut of helping them shepherd this entrepreneurial ventures until it becomes viable and sustainable.
He said the government also has micro-financing programs for OFWs involved in household services in Saudi Arabia, called the “Balik Pinay, Balik Hanapbuhay” program.
Nicon Fameronag, labor communications director of the Department of Labor and Employment (DOLE) said Philippine labor officials in Saudi Arabia were also asked to make representation with the Saudi Ministry of Labor, employers and other stakeholders to ensure those to be displaced can transferred to other companies without going back to the Philippines.
Saudi still top choice for OFWs
The planned “Saudization” policy however failed to dampen the desire of most Filipino workers’ to work in Saudi Arabia.
Local recruitment industry reported that there has been no drop in the number of Filipinos applying for employment in the Kingdom despite the impending implementation of “Saudization” policy.
“We have not seen any effect yet and the number of applicants has not been affected until this time because many still need jobs,” recruitment leader Lito Soriano disclosed.
According to Soriano, Saudi Arabia remained the top market for Filipino workers seeking employment abroad followed by another country in the Middle East-United Arab Emirates (UAE).
He said around 80,000 highly skilled OFWs are being deployed to Saudi Arabia annually while about 40,000 are seeking employment in UAE.
Labor Secretary Rosalinda Baldoz meanwhile said the government has started an accounting of OFWs who are likely to return home soon as a result of the “Saudization” policy.
Baldoz said concerned Filipino workers were asked to register with the Philippine Overseas Labor Office (POLO) to enable government agencies to immediately provide them the necessary assistance.
An estimated 100, 000 OFWs could be affected by Saudization, but Baldoz said they could get the exact figure once the policy has taken effect. – Sandy Araneta, Mayen Jaymalin, The Philippine Star
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