IN a bid to steer the Philippine economy back on track, Senate Minority Leader Alan Peter Cayetano has co-introduced a resolution establishing a dedicated Senate ad hoc committee to drive long-term structural economic reforms, attract new investments, and generate quality jobs for Filipino workers.
Cayetano filed Proposed Senate Resolution No. 618 alongside Senate President Sherwin Gatchalian and Senate Majority Leader Juan Miguel Zubiri.
The measure seeks to create the Reinvigorate Investment and Sustainable Economic Growth (RISE) Ad Hoc Committee. Once formed, the panel will recommend legislative strategies to both houses of Congress to enhance national economic resilience and foster inclusive growth.
The push for structural intervention comes amid alarming economic indicators. In the first half of 2026, the country recorded a modest 2.6 percent economic growth—significantly trailing behind major ASEAN peers, which posted growth rates between 5.5 and 8.2 percent.
Simultaneously, the domestic job market experienced a downturn as unemployment rose from 3.7 percent to 4.9 percent, leaving an estimated 2.6 million Filipinos jobless by June.
Rather than relying on short-term fixes, the RISE Committee intends to focus on sustainable interventions that boost investor confidence while elevating local labor standards.
Cayetano emphasized that driving business growth must remain balanced with improving compensation for the workforce.
“Sana mapag-usapan din natin y’ung ano ba ang tamang amount na hindi naman tutumba o malulugi y’ung mga negosyo, pero at the same time y’ung ating mga laborers at workers kumita ng living wage,” Cayetano stated, highlighting the need to find a sustainable equilibrium between business viability and decent pay.
The resolution advocates for creating high-quality domestic jobs to ensure that overseas employment becomes a voluntary choice rather than a necessity driven by a lack of local opportunities.
This aligns with Cayetano’s broader legislative agenda, including Senate Bill No. 104 (the Executive-Legislative Labor Commission Act of 2025), which aims to establish a National Labor Roadmap and transition the nation’s wage framework toward a true living wage.
“The hope of building a just and humane society will begin once we look beyond simply providing a minimum wage and start aiming for a living wage for all Filipinos,” Cayetano noted.
