To supplement government finances, the Philippines plans to issue its first-ever US dollar-denominated retail dollar…
Singapore employers are no longer required to post performance bonds, per PH.
The Philippines no longer requires Singaporean employment agencies and employers hiring Filipino domestic workers to submit banker’s guarantees and performance bonds.
The announcement was made during a meeting with Singapore’s Minister of Manpower Tan See Leng, according to a statement published by Department of Migrant Workers (DMW) Secretary Susan “Toots” Ople on Wednesday evening.
“The removal of those conditions was a tangible result of the historic first state visit of Philippine President Ferdinand Marcos, Jr., and was done in appreciation of the deep and enduring relationship between the Republic of the Philippines and the Republic of Singapore. According to a joint press release from the DMW and Ministry of Manpower, Minister Tan “expressed satisfaction for the stated abolishment and affirmed Singapore’s commitment to preserving the well-being of all migrant workers in Singapore.”
Ople stated that both nations independently acknowledged the ongoing efforts to end human trafficking.
According to the United States Trafficking in Persons Report’s Tier 1 List for 2022, both Singapore and the Philippines have made considerable efforts to combat human trafficking.
The performance bond imposed on Singaporean employment agencies and employers expressly for domestic workers was eliminated by the Philippine Overseas Employment Administration (POEA) Governing Board.
The need for a performance bond resulted from the 1995 execution in Singapore of Filipino domestic worker Flor Contemplacion.
Ople claimed that the POEA sent a directive ordering Singapore employers and agencies to pay the bail.
The aforementioned order solely applied to and affected Singapore.
“The Philippine Overseas Labor Office (POLO) in Singapore and the Ministry of Manpower (MOM) cooperate well. Because the MOM immediately handles complaints and closely regulates its licensed recruitment agencies, the POLO has never had cause to garnish the bond in favor of a disgruntled employee, “Ople clarified.
Leng, however, referred to the performance bond’s repeal as “Christmas in September,” given Singapore’s 27-year campaign for its elimination.
An estimated 215,155 Filipinos will reside and work in Singapore as of December 2021.
180,605 of them are temporary migrants; 81,272 of them, or 45 percent, are domestic workers. The remaining 99,333, or 55 percent, are professionals, highly skilled employees, and semi-skilled workers.
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