Aquino to Filipino-Chinese businessmen: Share profits to workers

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Friday, March 27, 2015


PRESIDENT Benigno Aquino III called on Friday the Filipino-Chinese businessmen to increase workers' wages and to continue to pay the correct taxes.

Aquino said that the true path to sustained profit and growth lies in empowering the workers.

"Increasing their disposable income increases demand, and therefore increases competition. It logically follows that this pushes companies to strive for greater productivity and efficiency, allowing them to become even more competitive, especially beyond our borders, which leads to growth for the economy-at-large," he said during the 30th Biennial Convention of the Federation of the Filipino-Chinese Chambers of Commerce and Industry Inc.

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"This is the approach that allows for a situation where, truly, everybody wins," he stressed.

The President said that when he was still in Congress, he proposed a measure that called for businesses to share part of their net new profits with their employees.

"I do not expect such a bill to be passed anytime soon, but perhaps your companies can take the initiative: make the effort to give your employees a little more, and it will serve to drive them to be even more productive, while at the same time spurring a virtuous cycle of trust, confidence, and sustained growth in terms of our economy," he said.

At the same time, Aquino urged the businessmen to continue paying the right taxes, which could be used to finance government projects and programs.

"The appeal continues: Please pay the correct taxes," he said. (SDR/Sunnex)

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