Filipinos make up the third biggest population of expatriates in the United Arab Emirates. It is estimated that the number of Pinoys in Dubai alone is more or less half a million.
During this year’s PPIE, a panel discussion on the Kabayan Power: Top Qualities that Make Filipinos In-Demand in the UAE was held featuring heads of Filipino professional organizations in the country.
Moderated by Chief Operating Office (COO) Vince Ang, the discussion talked about the ways Filipinos in the Middle East can dominate their workplaces and how they can individually utilize their power to start investing.
Chairman of the Philippine Institute of Certified Public Accountants (Dubai) Lyndon Magsino shared during the discussion his 3 C’s of success which are: (1) Communication, (2) Confidence, and (3) Collaboration.
“How to be successful in your chosen field: First is communication, it is very important that you have to have communication skills to be able to convey your message clearly to your direct reports, to your line managers, to your peers. Next is confidence, confidence comes from people, experience, and learning. Never stop learning. Collaboration for me is building relationships. A lot of people are getting into the corporate politics, try to avoid that,” said Magsino.
Meanwhile, Director for Membership Development of the Institute of Electronics Engineers of the Philippines – UAE Chapter, Engr. Puffy Niedo, shared how having a backbone organization or a supportive community can help unleash the real power or potential of Filipinos, especially those who are aspiring Engineers.
“Even if you are undergrad here in the UAE, you can still continue studying here in UAE and take the exam. The PRC comes here and helps out to help you get certified,” said Engr. Niedo.
He encouraged those who are already earning an average of 5,000 dirhams to invest in honing one’s skill even more and attain the supposed salary of professionals in UAE which is at 20,000 dirhams.
“Being an Engineer, technology is developing exponentially, kaya ayan po ang tinatarget namin. Subasabay po tayo, nakkipagsabayan po tayo. So, that is the mission of IECEP, that’s why we are here. Marami kaming ginagawang activities. We want to change their mindset. They are contented that they have a salary of 5000 that is very enough. You can family you can being here pero i told them not to stay or be content with that salary. Why? because your level of success as a technician can lead you to earn and reach the minimum salary of up to 20,000 dirhams,” said Engr. Niedo.
For his part, Magsino said that he prefers diversifying his earnings to various investments.
“I diversified my investments in real estate, stocks, I do crypto on a very minimal level, and bonds,” said Magsino.
He said that as professionals, we should also look into equipping ourselves in terms of financial literacy.
“Majority of our events and seminars is actually not technical. We are already graduate in those kinds of topics. I like the liquidity part of stock market. You have the ability to sell and buy anytime. For example, if you need 5 million, you cannot just get a buyer of your lot or condominium today. But in stock market, right now, there are hundreds who would like to have my shares. If you want your funds today, right now, you can just simply trade in the Philippine Stock Exchange or even in the US. I diversified my investments in real estate, stocks, bonds,” said Magsino.
He inspired the crowd by sharing that he was able to recently purchase a property in Dubai worth 3 million just through the earnings of his investments in the Philippines.
“This proves that the real estate market in the Philippines is thriving and profitable,” said Ang.
Likewise, Engr. Niedo also shared that even his purchased property in the Philippines has already increased in value regardless if it has not been updated or is currently not being utilized.
They encouraged other overseas Filipinos to have an open mind into when in comes to learning about investment and believe in their ability to also achieve the same positive results.
