DTI readies program for displaced OFWs
up their own micro, small or medium sized enterprises (MSMEs).
Maglaya said the partnership would help the OFWs and their families start a business. They would be given the option to either pursue it and remain in the country for good or continue working abroad and leave the business to their families or relatives.
The DTI will package MSME business models for promotion among prospective OFW-entrepreneurs or investors; facilitate or assist in the provision of resource persons for Owwa-organized entrepreneurship development training and related activities, and provide technical assistance to prospective and current OFW-entrepreneurs through the Negosyo Centers and network of mentors or experts both from the government and private sector.
The Enterprise Development and Loan Program, formerly the P2-billion OFW Reintegration Program, would be the most important component of the project, according to Owwa Administrator Rebecca Calzado.
Calzado said the partnership would help provide options for the OFWs to pursue business over overseas employment. “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 added.
In coordination with DTI, Owwa will also sustain the promotion of MSMEs as part of the entrepreneurship development component of the Reintegration Program for OFWs and refer OFWs or their families who intend to venture in businesses to DTI for access to training; make available its business loan program for OFW ventures, and ensure the support of its regional and overseas offices in the promotion of MSMEs among prospective OFW-entrepreneurs.
The DTI and Owwa also agreed to develop and distribute MSME materials as well as information and procedures on starting a business; holding of caravans and seminars in target areas locally and overseas, and project monitoring evaluation, counseling and mentoring of OFW-entrepreneurs, and improvement of MSME operations.