The Ateneo Leadership and Social Entrepreneurship (LSE) Alumni Association chapter in the United Arab Emirates recently held a forum in Dubai, which focused on the Philippine government’s OF Reintegration Program.
With a working theme, “Puhunang pang-Kabayan,” the event was held under the sponsorship the Overseas Workers Welfare Administration (OWWA) in partnership with Land Bank.
Philippine Consul General Paul Ryan Cortes, Labor Attache Felicitas Bay and Philippine Business Council Dubai Chairwoman Bobbie Carella graced the event, which was also attended by Ateneo LSE alumni and current participants to the ongoing LSE programme Batches 48 (Dubai) and 49 (Abu Dhabi).
Land Bank Overseas Representative Officer, Gerald Heriales discussed the main objective of the the government’s reintegration program for OFWs, which aims to open business opportunities for returning OFs by providing credit, amounting to a minimum of P300,000 and a maximum of P2 million to enable them to start up their businesses.
The credit facility is expected to encourage OFs to become entrepreneurs and return to the Philippines for good instead of working abroad and being far away from their families.
In addition to providing an alternative livelihood to OFs by enabling them to own sustainable businesses, employment opportunities will also be created for local communities as former OFWs-turned-entrepreneurs open and grow their businesses.
To avail of the program, qualified OFs, who are currently employed overseas, as well as former OFs, who went back to the Philippines not exceeding a period of three years, are required to complete Land Bank’s Entrepreneurial Development Training (EDT) in any of the Land Bank regional offices.
Ateneo LSE Alumni Association President, JR Papel had proposed to ease Land Bank’s training requirement for qualified overseas Filipinos, who have completed the Ateneo De Manila University, School of Government, Leadership and Social Entrepreneurship (LSE) 6-month intensive program in the UAE, which covered the areas of business plan development and leadership training, financial literacy as well as social entrepreneurship.
The Ateneo LSE Program as a whole provides training in risks, mitigations, strategies in setting up a business and sound financial assessment for sustainability of a business plan.
