MANILA: The Philippine Department of Trade and Industry (DTI) has joined hands with the Overseas Workers Welfare Administration (OWWA) to help repatriated overseas Filipino workers (OFWs) venture into small businesses.
A memorandum of understanding (MOU) has been signed by the DTI-Regional Operations Group (ROG) and the OWWA to formalize their partnership in implementing the Enterprise Development and Loan Program (EDLP) for returning OFWs, reported Philippine Star.
EDLP, formerly the P2-billion OFW Reintegration Program, seeks to help OFWs and their families who intend to venture into micro, small and medium enterprises (MSMEs) build their own businesses, in support of the government’s reintegration program, the report said.
DTI-ROG Undersecretary Zenaida Maglaya reportedly said the partnership came at a good time as some OFWs, specifically those from Saudi Arabia, have recently been retrenched due to the oil crisis.
“Now with this situation with our OFWs, it’s good that we have partnered with OWWA because what we really want to happen is that they would still be able to help their families, be able to get a good and decent job, without leaving the country,” Maglaya was quoted as saying.
She added the partnership is timely as the DTI and OWWA intend to promote and advance entrepreneurship for OFWs.
OWWA administrator Rebecca Calzado, for her part, reportedly said the EDLP is the “most important” component of the social preparation of OFWs upon their return to the Philippines.
“This is what the MOU is all about—for returning OFWs who wish to find an alternative to overseas employment. These are programs that the government can offer,” Calzado was quoted as saying.
Under the MOU, the OWWA will sustain the promotion of MSMEs as part of the entrepreneurship development component of its Reintegration Program for OFWs, said the news portal.
It will also organize entrepreneurship development trainings, refer prospective OFW-investors to the DTI and offer its business loan program for expansion or start-ups done by OFWs, reported Philippine Star.
The DTI, for its part, will package priority MSME business models to be offered to prospective OFW-entrepreneurs and investors and provide resource persons for OWWA-organizes entrepreneurship development trainings and related activities, the report said.
Photo Credit: OWWA
