The Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) on Friday pushed for consultations with the government on the proposed P200 legislate wage increase and warned that its approval could diminish investor confidence and erode the competitiveness of local industries.
It said that while it acknowledged the intent behind the proposed wage increase, which seeks to improve Filipino workers’ livelihoods, policymakers should consider a more balanced, consultative and region-sensitive approach to wage adjustments.
“As an organization deeply committed to fostering sustainable economic growth, we believe that wage increases should be carefully calibrated—taking into account inflation, regional cost-of-living disparities, and the financial viability of businesses, particularly micro, small, and medium enterprises (MSMEs)—the backbone of the Philippine economy,” FFCCCII president Victor Lim said in a statement.
The group warned that a one-size-fits-all legislative mandate, while well-intentioned, risks unintended consequences such as reduced competitiveness of local enterprises, potential job losses, and diminished foreign investment confidence.
The FFCCCII called for continuing tripartite consultations involving labor, business and government to ensure wage policies are equitable, data-driven, and reflective of economic realities.
“We stand ready to collaborate with all stakeholders in crafting solutions that balance workers’ welfare with business sustainability, safeguarding the long-term health of the Philippine economy,” the group said.
The organization expressed hope that through dialogue and evidence-based policymaking, a wage system that is fair, progressive and conducive to inclusive growth can be achieved.