Gov’t encourages OFWs to start their own firms
MANILA, Philippines—The government is beefing up efforts to reintegrate returning overseas Filipino workers (OFWs) through programs encouraging them to start businesses, the National Economic and Development Authority (Neda) said.
Socioeconomic Planning Secretary Arsenio M. Balisacan said micro-, small-, and medium-sized enterprises (MSMEs) can harness the resources, experience and expertise grained by OFWs to generate employment and contribute to development.
Balisacan is also Neda director general.
The government, through the Commission on Filipinos Overseas and the Department of Trade and Industry (DTI), has put up the BALinkBayan (Business Advisory Link para sa Bayan) website to help OFWs set up businesses and investments in the Philippines.
The website provides a link to DTI’s One-Town-One-Product (OTOP) program, as well as other community-level convergence programs of the Departments of Agriculture, Agrarian Reform, and Environment and Natural Resources.
Neda said that other enterprise programs under the MSME Development Plan: 2011-2016 also aim to encourage local entrepreneurs and returning OFWs to invest their resources in the country.
As of June 2012, 19,403 participants were trained in weaving, bamboo processing, making handmade paper, branding, management and values formation to increase their productivity and access to markets.
In 2011, 2,034 OFWs were provided training by the Overseas Workers Welfare Administration and the Philippine Trade Training Center to encourage them to become entrepreneurs.
Similarly, the Rural Micro Enterprise Promotion Program continues to provide financial (microfinance) as well as technical assistance to promote the development of microenterprises.
As of June 2012, a total of 44,061 microenterprises were provided microfinancing (126 percent of target) while 22,073 (or 147 percent of target) were provided business development services, including capacity building and product development.
Get Inquirer updates while on the go, add us on these apps:
Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94