By Faye P. Velasco, PNA and U.S. News Agency / Asian
Vice President Jejomar C. Binay has said the Philippines is moving towards the right direction with the continuing campaign to promote transparency in government and the strengthening of livelihood projects and programs for overseas Filipino workers.
“Ikinatutuwa kong sabihin sa inyo na maayos ang takbo ng ating bansa. Ang mga malalaking katiwaliang naganap noon ay binabalikan upang iwasto at panagutin ang sinumang may pananagutan,” Binay assured the Filipino community in Lund, Sweden, during a dinner hosted by Philippine Ambassador to Sweden Maria Zenaida Angara Collinson.
The Vice President, currently the National President of the Boy Scouts of the Philippines (BSP), is in Sweden to attend the 22nd World Boy Scouts Jamboree in Stockholm.
In his talk, Binay cited the achievements of the Aquino administration during the past year, including the increase in the country’s international dollar reserves due mainly to the US$ 18.8-billion remittance of OFWs last year.
“Tumaas din ang tiwala ng mga international credit rating agencies sa ating kakayanang pang-ekonomiya, gaya ng Standard and Poor’s, Moody’s, at Fitch,” he added.
Meanwhile, Binay, who is also the chairman of the Housing and Urban Development Coordinating Council (HUDCC), said that at least 3.6 million affordable housing units, or 360,000 a year, have to be built within the next 10 years.
“This is one area where, as HUDCC chair, I have consistently pushed for foreign investments to come in,” said the housing czar, who added that the “the most enthusiastic response has been coming from our own OFWs themselves.”
“[The OFWs] have been investing in the Home Development Mutual Fund, or Pag-IBIG, and building their own homes at the best possible terms in the process,” he said.
Binay said that by virtue of Republic Act No. 9679, or the Home Development Mutual Fund Law of 2009, all OFWs and other individuals employed by foreign-based companies may now enjoy all the benefits enjoyed by the original members.
“I am sure that all of you are doing everything to invest your money wisely for your future and for your loved ones in the Philippines. But you could have more options through Pag-IBIG. I trust you will allow Pag-IBIG to serve your needs,” the Vice President said.
“Just recently, the Fund provided economic relief to OFW members who were repatriated from conflict areas in the Middle East and North Africa in the form of early withdrawal of their accumulated savings or a six-month moratorium on payments of their multi-purpose or housing loans,” he added.
Binay also announced that the recently-approved “good payor” incentives program for all housing loan borrowers, who are up-to-date with their payments, is expected to benefit at least 76,000 members in the Philippines.
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