GOV’T TARGETS TO REINTEGRATE MORE OVERSEAS FILIPINOS—NEDA Microenterprise programs to attract more investments from returning OFWs

MANILA—More overseas Filipino workers (OFWs) are targeted for integration back to the Philippines through entrepreneurial programs to drive investments in the micro, small and medium enterprise (MSME) sector, the National Economic and Development Authority (NEDA) said.

“We are beefing up efforts to reintegrate OFWs so we can harness their experience and expertise in contributing to the country’s socioeconomic development,” Socioeconomic Planning Secretary Arsenio M. Balisacan said.

Balisacan, who is also NEDA Director-General, explained that the resources brought by OFWs will help generate employment and contribute to the growth of MSMEs in the country.

The Socioeconomic Report (SER): 2010-2012 recently released by NEDA showed that the government, through the Commission on Filipino Overseas and the Department of Trade and Industry (DTI), 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.

The report added 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, a total of 19,403 participants were trained in weaving, bamboo processing, making handmade papers, branding, management and values formation to increase their productivity and access to credit and markets, among others.  In 2011, a total of 2,034 OFWs were also provided training by the Overseas Workers Welfare Administration and the Philippine Trade Training Center to encourage them to become entrepreneurs.

ASENSO (Access of Small Enterprises to Sound Lending Opportunities), formerly known as SULONG, already released a total of PhP254 billion worth of financial assistance, equivalent to 251,920 accounts and translating into 3,649,428 jobs supported since its inception in 2004 until June 2012, the SER said.

Similarly, the Rural Micro Enterprise Promotion Program (RuMEPP) 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 have been provided microfinancing (126% of target) while 22,073 (or 147% of target) had been provided business development services, including capacity building, product development, market linkages, among others.

The SER is an assessment of the first two years of the Aquino administration in relation to the targets and strategies set in the PDP 2011-2016.

M.R. No. 2013-019                                                                                  10 February 2013