29.3 C
Philippines
Monday, April 22, 2024

11:44 PM

29.3 C
Philippines
Monday, April 22, 2024

11:44 PM

ILO 204 rollout in Normin seeks support for informal economy

CAGAYAN DE ORO CITY (PIA)— Addressing the plight of many workers and economic units in the informal economy, the Department of Labor and Employment (DOLE)-10 conducted the International Labor Organization (ILO) Recommendation 204 Rollout, October 13.

“Through formalization, strengthening access to social protection, preserving rights of the most vulnerable, and promoting ‘decent work for all,’ we are steps up the ladder to achieving our regional aspirations by expanding economic opportunities in industry and services through trabaho (work) and negosyo (business), as well as, achieving the Sustainable Development Goals,” Regional Development Council (RDC)-10 Chair Gov. Philip Tan said. 

In July 2021, the labor force participation shows that about 61 percent of the working age population, those between 15 to 64 years old was at 2.114 million, with an employment rate of 95 percent.

Thus, National Economic and Development Authority (NEDA)-10 and RDC-10 Vice-Chair Mylah Faye Cariño said, “With the rollout, it is our hope that we will be able to expand our formal economy through the creation of jobs for the informal sector. This activity is a testament that with persistence and commitment, we can always emerge victorious against the trials and tribulations that come our way.”

As discussed in the rollout, informal sector refers to the unregistered and/or small unincorporated household enterprises engaged in the production of goods or services for sale or barter. 

“Affirming that the transition from the informal to the formal economy is essential to achieve inclusive development and to realize decent work for all,” ILO Enterprise Development Specialist Hideki Kagohashi said.  

He added that with the transition to the formal economy, members should progressively extend, in law and practice, social security, maternity protection, decent working conditions, and a minimum wage to all workers in the informal economy. 

For her part, ILO Managing Partner Aji Espinoza said the policy areas of formalization that can be addressed in the region include (1) business entry reforms; (2) simplified tax regimes; (3) access to public procurement; (4) access to inclusive financial services; (5) access to entrepreneurship training, skills development; and (6) access to social security coverage. 

To further aid in this endeavor, Cariño said NEDA-10 commissioned a Research on the Assessment of the Informal Economy in Cagayan de Oro City, which is set to be completed by the end of this year.

“Said study aims to determine the economic activities, enterprises, and jobs in the informal sector in Cagayan de Oro City, as well as, assess the contribution of informal economic activities to the local economy, identify gaps and challenges that confront the sector, and determine policy recommendations,” Cariño added. 

Participating national line agencies also crafted and presented various issues and concerns on implementing the policy areas to further identify ways on how the government can aid in the transition of the informal to formal economy. (RTP/PIA-10)