CLOSE to 125,000 Filipino factory workers in Taiwan are set to benefit from a new minimum wage law that introduces mechanisms for the annual review of wages, according to the Manila Economic and Cultural Office (MECO).
The increase in wages brings positive news for overseas Filipino workers (OFWs) in Taiwan, as they start the new year with improved earning potential. MECO Chairman and Resident Representative Silvestre Bello 3rd expressed appreciation for the Taiwanese government’s initiative and its positive impact on all workers, including OFWs in Taiwan.
Out of the 151,562 OFWs in Taiwan, 123,768, as well as those who will be hired until December 31, 2023, will benefit from the new law. The legislation raises the monthly minimum wage by 3.89 percent, equivalent to NT$1,070, effective from January 1, 2024.
Under the new law, the minimum wage will increase to NT$27,470 (approximately P46,699) from NT$26,400 (approximately P44,800), while the basic hourly rate will rise to NT$183 from NT$176.
Taiwan’s recent passing of this measure demonstrates its commitment to protecting workers’ rights and ensuring fair compensation. The legislation also imposes a penalty of NT$1.5 million (approximately P2.9 million) on employers who fail to comply with the minimum wage requirement.
This landmark minimum wage law is a significant step towards improving the working conditions and livelihoods of Filipino factory workers in Taiwan. By providing mechanisms for regular wage reviews, the legislation acknowledges the importance of adjusting wages to keep up with the changing economic landscape and cost of living.
The increase in the minimum wage will undoubtedly have a positive impact on the lives of OFWs in Taiwan. Higher wages mean improved financial stability, allowing them to better support their families and contribute to the Philippine economy through remittances.
Additionally, this development highlights the strong bilateral relationship between the Philippines and Taiwan. The Taiwanese government’s commitment to ensuring fair wages for all workers, regardless of nationality, reflects the country’s dedication to fostering a harmonious and inclusive society.
It is important to note that this minimum wage law not only benefits Filipino workers but also sets an example for other countries to follow. By prioritizing fair compensation and regular wage reviews, Taiwan demonstrates its progressive approach to labor rights and sets a benchmark for other nations.
Overall, the implementation of the landmark minimum wage law in Taiwan is a positive development for Filipino factory workers. It not only improves their financial well-being but also serves as a testament to Taiwan’s commitment to upholding workers’ rights and promoting equality in the workplace.
Source: The Manila Times
