In a united stance, the Philippine Business Groups (PBG) voiced their support for the Department of Finance (DOF) and National Economic and Development Authority’s (NEDA) recommendation to completely ban Philippine Offshore Gaming Operators (POGOs).
While the PBG acknowledged the potential job losses associated with the ban, they urged the government to prioritize reskilling initiatives and create alternative job opportunities for affected Filipino workers. The groups call for support in repurposing assets used by POGO-related industries.
Recent data from NEDA reveals that POGOs contributed a mere 0.2 percent to the Philippines’ gross domestic product (GDP) in 2023, a minimal economic contribution that pales in comparison to the significant social costs incurred.
Previous reports cited concerns that POGO operators have been linked to a range of criminal activities, including human trafficking, kidnapping, and money laundering.
In 2022, Philippine National Police (PNP) data indicated that 55 percent of the 31 kidnapping cases were POGO-related.
The NEDA said the crimes related to POGO investments can hinder growth, affect investor perception, and potentially affect our bilateral and multilateral relations.
“We want investment inflows that will promote not only the economic, but also the social aspects of our development,” said NEDA Secretary Arsenio Balisacan.
The PBG firmly supports NEDA’s position, favoring legitimate foreign investments that foster knowledge transfer, skill enhancement, and the creation of quality jobs for Filipinos.
The PBG’s call to ban POGO supports the growing concerns about the industry’s negative impact on society and its minimal economic benefits.
PBG comprises the Alyansa Agrikultura, Financial Executives Institute of the Philippines, Foundation for Economic Freedom, Institute of Corporate Directors, Justice Reform Initiative, Makati Business Club, Management Association of the Philippines, and the UP School of Economics Alumni Association.
It is a coalition of prominent business organizations in the Philippines, committed to advocating for policies that promote sustainable economic growth and social development.
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