For overseas Filipino workers (OFWs) currently working in Taiwan – or will soon be arriving there – here’s a terrific news for you. An official Taiwanese representative has announced that there will be a wage increase amounting to 5% by January 1, 2017.
This is according to Angelito Banayo, Chairman of the Board for the Manila Economic and Cultural Office (MECO). Banayo confirmed this in an interview with the press during the 105th National Day Reception of Taiwan held at the Sofitel Philippine Plaza Manila. He said that the Taiwanese government has finalized the minimum wage hike plan about two weeks ago.
“Starting January 1, there will be 5.0 percent increase in salaries for all our OFWs. This is good news,” said the Chairman.
The previous month, the Minimum Wage Review Committee of Taiwan’s Ministry of Labor passed a resolution to increase the monthly minimum wage in Taiwan. As of this writing, Taiwan’s monthly minimum wage is at NT$ 20,008 or around P30,771. This will soon change come early next year.
“Starting 2017, it will be NT$ 21,009 or an increase of NT$ 1,001 equivalent to roughly P1,500 per month,” Banayo shared.
As can be expected, this news has been well-received by both Taiwan-based OFWs and their families back home here in the Philippines.
The Taiwan Economic and Cultural Office tell us that there are around 135,000 OFWs currently working in Taiwan. These OFWs are employed in various fields of industry, mainly in the information and communication sectors.
Meanwhile, information released by the Bangko Sentral ng Pilipinas mentions that remittances by OFWs based in
Taiwan has seen an increase of 15.3% compared to the previous year. This figure covers the remittances sent to the country from January to July of this year which amounted to a total of $166.9 million as opposed to last year’s $144.7 million.