ECOP: P150 pay hike to widen gap of formal, informal sectors

The Employers Confederation of the Philippines (ECOP) said the proposed PHP150 legislated daily pay increase will only widen the wage gap between the formal and informal sectors.

markets through trade promotion, better understand clients, invest and expand production capabilities and utilize existing preferential trade agreements.

“Evidently, we need to diversify our export basket, and investments play a key role in developing Philippine capabilities to produce and export more of higher value products,” he said.

“We will focus on investment attraction and export development in sectors where we have established capabilities that can serve as a solid foundation for export growth and are well-positioned to seize opportunities in emerging trends. These are: Industrial, Manufacturing, and Transport (IMT), Technology, Media, and Telecommunication (TMT), and Health and Life Science (HLS),” he added.