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Employment News

PNoy: 43,000 Jobs Await Filipinos in the Next Three Years

Date Posted: Oct 1, 2010

President Benigno “PNoy” Aquino III has great news for the Filipinos after his trip to the United States and meet foreign leaders and investors and that is the more than 43,000 jobs that will be generated in the Philippines in the next three years.


"We were able to secure a commitment of at least 43,650 new jobs in the next three years, including some 4,500 in construction related jobs. And because of the multiplier effect, we estimate 200,000 more jobs to benefit our countrymen,” PNoy said.


The president added that he and his delegation have secured $2.4 bullion in investments and a grant of $34 million by the Millennium Challenge Corporation for social welfare programs.


During his trips, Pnoy attended 40 meetings with political, business, and civil society leaders to encourage them to invest in the country.


"These meetings covered a wide range of sectors such as power generation, consumer products, business and knowledge process outsourcing, health care, and garments and leather goods," he said.


Multinational companies have pledge their support and will either invest and expands their operation in the country. Among these companies is AES Corporation which will expand their coal-fired power plant in Masinloc, Zambales. The construction of the power plant, which will may last three to four years, said to create more than 1,500 jobs.


Largest beverage company in the world Coca Cola will also invest $1 billion for the "upgrading and replacement of equipment and creation of new products and processes," according to Aquino.


Other companies that will invest in the country are, Pfizer, Hewlett-Packard (HP), JPMorgan Chase, General Electric (GE), and several others.


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