The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) has vowed to help the government find new jobs for Filipino workers displaced by the current global economic crisis.

This was announced today by Executive Secretary Eduardo Ermita who said that the FFCCCII and the Department of Labor (DOLE) have forged an agreement that the two parties would "cooperate in the placement of displaced workers among FFCCCII member-firms nationwide." Ermita said the agreement was signed by Labor Secretary Marianito Roque and FFCCCI President John K. Tan last week. In a press statement, Roque described FFCCCII's cooperation with the government as a "huge gain in the national efforts to mitigate the impact of the financial crisis on workers." The FFCCCII has 170 member-organizations all over the country. Under the agreement, FFCCCII, through its affiliate organizations, will accept for placement workers referred to it by the DOLE, which will provide training or re-training of the displaced workers prior to their employment. The DOLE will also provide the chamber with the needed technical assistance in skills matching and work arrangements. Roque also reported to Malacanang that South Korean government has activated a safety measure to help any overseas Filipino workers (OFWs) in that country affected by the global crisis. He said he was informed by the Philippine labor attaché in Seoul that the Korean ministry of labor has assured him that OFWs would be given priority employment in new job openings under its Employment Permit System (EPS). The labor secretary said that thus far, only 74 OFWs out of the thousands of Filipino workers in Korea, have lost their jobs in the midst of the worldwide economic meltdown. In a related move to help displaced Filipino workers, the Overseas Workers Welfare Administration (OWWA) launched Monday an easy lending program for OFWs as part of President Arroyo's Comprehensive Livelihood and Emergency Employment Program. Under the lending program, OWWA will directly lend to a displaced OFW up to P50,000 to start or expand a livelihood project. The money is available at a low 5 percent interest per annum at no collateral and payable over 24 month installments with a grace period of 90 days, interest free.