Aquino: Vibrant economy enticing OFWs to come home

[hubag bohol]

Manila Bulletin â€" Sun, Apr 28, 2013



Reuters/REUTERS - A worker inspect U.S. dollar bills, which are being exchanged for Philippine Pesos, inside a money changer in Manila April 1, 2013. The Philippines could attract more capital inflows after winning its first-ever investment grade rating, but any boost to local bonds, stocks or the peso currency is likely to be mild for now, investors and analysts say. REUTERS/Romeo Ranoco (PHILIPPINES - Tags: BUSINESS)


CALBAYOG CITY - President Benigno S. Aquino III on Friday said more overseas Filipino workers (OFWs) are planning to come home due to the vibrant economy the country is experiencing now.

In his speech at the meeting with local leaders and the community at the Calbayog Sports Complex here, the President cited the newly opened Solaire Resort & Casino on Roxas Boulevard, Manila, where one of its chefs - a Filipino who has been staying in the US for 24 years - has decided to come home to work here.

[hubag bohol]

President Aquino said Solaire Resort & Casino has so far employed around 500 OFWs who have decided to come home than work abroad.

"If you are an OFW, your income is tax-free. Back in the Philippines, even if you receive the same salary as when you're working abroad, you have to pay income tax. But, if I am an OFW, if this means I can be with my family, I might as well go home," he said in Filipino.

"Our OFWs are now realizing the fruits of our good governance, they were not forced to come home, but have decided that working and living now in the Philippines is better than working abroad," he said.

[hubag bohol]

In a span of four decades, the number of deployed OFWs has skyrocketed from 36,035 in 1972 to an estimated 2.2 million in 2011.

OFWs and Filipino immigrants continue to be an important source of money remittances to the Philippines, providing a vital lifeline for their families.

Personal remittances from OFWs reached US$ 1.9 billion in January this year, representing an increase of 8.4 percent compared to the year-ago figure of US$ 1.7 billion, according to the Bangko Sentral ng Pilipinas (BSP).

In 2012, cash remittances from OFWs coursed through banks represented about 6.5 percent of the country's gross national income and 8.5 percent of the gross domestic product. (PNA)

[hubag bohol]

Hmm, mouli na galing si Bay Pikoy kon maohon...

[islander]

si pikoy sa tinuoray mopauli kay i-deport man sa saudi arabia ang mga gwapo.  it's in the news, morpa.

http://tubagbohol.mikeligalig.com/index.php?topic=72315.new#new

[jorgeanna]

ma-enticed ko kung sweldohan ko sa pinas og misag 70% sa akong income diri