Global OFW Deployment to Reach 1M, Remittances to Approach $14b in 2007 The Department of Labor and Employment (DOLE) today said that the global deployment of overseas Filipino workers (OFWs) is expected to reach and breach the 1-million mark, while total OFW remittances are expected to approach the US$14 billion level by December this year.      Labor and Employment Secretary Arturo D. Brion said that as of mid-year 2007, OFW deployment had already breached the 0.5 million mark in more than 190 destinations worldwide.      He expressed confidence that at this growth rate, total deployment figures will reach if not surmount the one million level worldwide this year.      Brion earlier indicated that from January to July this year, the deployment of OFWs in the new hire category increased in several host destinations including Canada, Italy, Cyprus, New Zealand, and New Caledonia due to the demand for Filipino skilled workers in their industries.      Amidst the development, he bared that major banks in the Philippines have now joined hands to develop a distinct and more affordable global remittance system benefiting the OFWs in linkage with the Department of Labor and Employment, particularly its newly established National Reintegration Center for OFWs (NRCO).      "I laud BSP for ensuring global remittance services, in effect making it more convenient and efficient for OFWs to remit their earnings," Brion said, adding that the synergy between the NRCO and banking institutions will boost reintegration of the country's modern day heroes to the economic mainstream on their return. (DOLE) VP Noli Listens To OFWs’ Petition Vice President Noli “Kabayan” De Castro, also the presidential adviser on overseas Filipino workers, listened yesterday to the proposal made by a group of OFWs regarding the establishment of a “special Exchange rate” exclusively for migrant workers.      The group, comprised of the Center for Migrants Advocacy (CMA) together with the V-Team – Advocacy and Community Service, visited the Office of the Vice President to personally handover to De Castro a letter proposal addressed to President Gloria Macapagal Arroyo seeking for a fixed 10% premium above the exchange rate prevailing in the market or a flat rate of fifty pesos to one dollar to be given to legitimate OFWs.      The letter-proposal is attached with around 15,000 signatures from OFWs around the world signifying their support for their proposition.      The group’s senior action officer, Ronnie Abeto, recommended the following mechanisms in order to be able to implement this ‘special exchange rate’ project: for the government to put up a stabilization fund to address exchange rate fluctuation; entering into a collective “Forward Contract or Currency Options” with financial institutions;      For his part, De Castro explained to the group that he would endorse their letter to the President and will monitor the progress of their request.      De Castro added that he will look into the feasibility of the group’s second alternative of entering into a “Forward Contract or Currency Options” with financial institutions. The viability of this proposal depends on the volume of the transaction and their ability to organize themselves.     The Vice President also noted that as early as last year, he has been pushing for plans to alleviate the plight of OFWs by urging the Bangko Sentral ng Pilipinas to study his proposal to lower bank charges on OFW remittances.(OVP)