In a joint statement, the Araullo University Political Science Students Organization, Thomasian Debaters’ Council, Movement Experts’ Society – Pamantasan ng Lungsod ng Maynila, Bukluran Students’ Alliance – Pamantasan ng Lungsod ng Maynila, KAISA UP and Samahan ng Progresibong Kabataan , cautioned on the possible implications liberalizing foreign investment laws through the House Bill No. 300.
“The immediate consequence of this amendment will be a drop in the employability of Filipino graduates,” the groups said. “Foreign-owned small and medium enterprises that will proliferate in the country can freely bring in foreign workers instead of hiring local professionals,” they added. Furthermore, the youth groups noted that HB no. 300 is also an “affirmation of the policy to address economic concerns through unregulated lowering of labor costs, and ‒ by extension ‒ of workers’ wages.” This, they added, is the “comparative advantage or the ‘selling point’ of the Philippine economy that is built on the struggle of the local workforce.”
The groups noted that despite the congressmen’s expressed intentions, the HB no. 300 “runs counter to the government’s mandate to invest in the youth of this country, in our education system, and in our future and general well-being.”