THE Departments of Agriculture and Labor formalized a partnership last May 7, 2013 which seeks to empower Overseas Filipino Workers (OFWs) and enable them to undertake agribusiness enterprises as part of the government’s Reintegration Program.
According to Agriculture Secretary Proceso J. Alcala, DA and DOLE are joining efforts for a P2-billion financing scheme to attract returning OFW to invest in agri-fishery businesses.
“This is in recognition of their invaluable contribution to the country’s economic status,” Alcala said.
“The government also hopes to harmoniously work with them to effect a positive rural development by enabling returning OFWs to venture in agribusiness and similar undertakings,” Alcala added.
To effectively jumpstart the project, Alcala signed a memorandum of agreement with DOLE Secretary Rosalinda Dimapilis-Baldoz to set into motion the promotion of agribusiness and agricultural entrepreneurship.
Secretary Baldoz said that the DOLE supports the DA and the high potential of the country’s agricultural sector in terms of creating jobs for many Filipinos.
“The country needs more agribusiness entrepreneurs who will not only invest in money, but also more importantly, time, effort, and skills to modernize the agriculture sector,” Baldoz said.
Under the agreement, the DOLE shall make available the P2 Billion OFW Reintegration Program for OFW ventures in agriculture or fisheries, either for business expansion or start-up operations, subject to the program’s implementing rules and regulations.
Migrant workers and their families are expected to immediately benefit from the MOA between DA and DOLE. The agreement also ensures the availability of information, entrepreneurship with technology training in agriculture and fisheries, management and marketing assistance, experts’ technical support, access to financing and support services for specific agribusiness preferred by OFWs and their families.
Returning OFWs who are interested in agribusiness projects may avail of the loan assistance without collateral as long as the business they want to put or expand remains practical and profitable. They may submit their business plans at the Overseas Workers Welfare Administration (OWWA) regional offices. This is a joint-venture project of OWWA, Land Bank of the Philippines and the Development Bank of the Philippines .
Beneficiaries may seek skills training, retooling and upgrading, financial literacy of money management training and entrepreneurship training, business capital assistance, business loans or facilities, as well as technology, product development and marketing assistance.
OFWs may also avail counseling on values family formation, family support, preparation for eventual return and realization of their family goals as an offshoot of overseas employment, while distressed OFWs could ask for legal assistance, medical assistance, repatriation and economic assistance.
Both Alcala and Baldoz believe that the convergence of DA and DOLE will bring government programs closer to the public and elevate the quality of life especially in the countryside.