Workers lured home by booming economy
The last 3 months have seen a dramatic increase in demand from Globe’s Mining Houses and Mining Services clients in the Asia Pacific region for South East Asian based trades people, particularly Heavy Duty Mechanical and Electrical Fitters. There is certainly increased demand for professionals such as mining engineers and geologists from the Philippines, Indonesia and PNG for instance, but the greatest demand shown of late is for Technicians and Tradespeople.
After many years of a Philippines skills drain to Africa and the Middle East, on long rosters and often with extended periods away from family, there is a growing trend of repatriation of Filipino nationals, with strong skill sets in maintenance, automation, metallurgy and mining engineering. This is in line with the Philippines National drive to attract people home to their booming region. Neighbouring Asia Pacific countries such as Laos, PNG, Indonesia, China, and Malaysia (and even Australia, with the 457 program), are also benefiting from this increased availability.
According to a recent Bloomberg survey, the Philippines is tipped to be amongst the world’s top 10 fastest growing economies in 2012, with their gross domestic product accelerating for a third consecutive quarter. This has been driven in most part by record government spending on infrastructure, including roads and airports.
The Filipino governments Budget Secretary, Florencio Abad advised recently of a continuance of public spending for the last quarter of 2012 as public infrastructure projects are implemented.
“All in all, we’re looking at very fruitful times ahead. With inflation kept down and an interest regime that stays low – not to mention increased public confidence in our anti-corruption and reform-oriented government platform – we see the country’s risk profile to improve considerably”, Abad said.
Their improving credit rating, along with stabilisation of peace in the mineral-rich Mindanao area and the institutionalisation of mining policy reforms, is causing mining companies take renewed interest in this area. This also sees Globe 24-7 continue to work towards setting up ‘on the ground’ services, in order to better service candidates and clients in emerging markets, as has recently been achieved with our newest office in Ulaanbaatar, Mongolia.