Go Negosyo Founder Joey Concepcion is urging overseas Filipino workers or OFWs to maximize the strong US dollar currency to become entrepreneurs and promote inclusive economic growth in the Philippines.
Concepcion said in a statement that OFWs should invest wisely in the Philippines and become entrepreneurs so that the country can also benefit from exclusive growth.
The former presidential adviser made the suggestion following concerns rising value of the US dollar against the Philippine peso.
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Concepcion added the rising dollar value means a 12- to 13-percent increase for every dollar OFWs earn.
“Malaki ang kontribusyon dahil marami tayong OFWs,” he said in a statement.
“Their income is rising in terms of pesos, but they should spend and invest it wisely. Hopefully, our OFWs will have enough savings so they can come back and start a small business so that they will not be forever working away from home,” he added.
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Concepcion said if OFWs will become entrepreneurs they will boost the local economy especially in the provinces.
Concepcion adds that the government is closely working with micro, small and medium enterprises.
“Hopefully, sales for the MSMEs will be good, and they will have enough working capital to let them cross over to 2023,” he said.
