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Overseas Filipinos sent USD 22.8 Billion in 2013

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BSP reports that remittances hit an all-time high of 22.8 billion US Dollars for the year 2013. For December alone, overseas Filipinos sent home a record 2.2 Billion US Dollars. The amount is an increase of 6.4 percent  year on year. USD 22.8 billion dollars represent about 8.4 percent of Gross domestic product in 2013.

Domestic Manufacturing Sector Leads Increase In Investments

The significant increase in last year’s investments by local enterprises in the Philippines will most likely encourage increase of foreign direct investments this year. According to the National Economic and Development Authority, foreigners will take the rising number of local businesses, particularly in manufacturing, as an indication of Filipino confidence in their own economic policies. The willingness of Filipinos to invest is therefore vital and a catalyst for the country’s continued economic growth.

source: http://business.inquirer.net/162645/neda-sees-surge-in-foreign-investments

Filipinos expect that their Request for Temporary Protective Status in the US will be Granted Soon

Filipinos expect that their Request for Temporary Protective Status in the US will be Granted Soon

With recommendations from several US government agencies, and now with the support of the Philippine government, Filipino- American groups have been expecting a good result of their efforts to obtain a Temporary Protected Status (TPS) for undocumented or irregular Filipino migrants in the US soon. Once TPS is granted, an estimated number of 300,000 Filipinos will benefit, allowing them to work and travel freely in the US.