Overseas Filipinos were encouraged to venture into agribusiness and consider it as an additional source of livelihood during an investment forum by the Department of Agriculture.
The first installment of the forum, Kabayan, Mag-Agribusiness Tayo! held in the UAE, tackled various business opportunities including agriculture, fisheries, and agritourism.
“The forum aims to entice OFs to venture into profitable agribusiness, which will provide an additional source of livelihood and revenue that can sustain their financial security and that of their respective families in the Philippines,” the DA said in a Facebook post.
Citing the data from the Bangko Sentral ng Pilipinas, remittances from OFWs hit an all-time high record last year, recording $33.491 billion mainly from the United States, Saudi Arabia, and the United Arab Emirates.
The agency said that this program also empowers OFWs to “channel some of their personal remittances” in these types of businesses and enterprises to help stimulate the growth of the sector.
“By investing in agribusiness, we not only secure our food supply and reduce our dependence on imports but also create sustainable livelihoods and economic opportunities for our rural communities.” DA Assistant Secretary for Consumer Affairs Genevieve Velicaria-Guevarra said.
The forum discussed the topics Philippine Agribusiness Investment Opportunities; From Grass to Meat: Potential of Beef Cattle, Goat, and Sheep; Business Opportunities in Fisheries; Agritourism, Agriculture Scholarship, Training, and Extension Programs; From Idea to Enterprise: A Comprehensive Guide to Starting Your Own Agribusiness; and Credit and Financing Opportunities for OFs in Agriculture and Fisheries with the industry experts.
