3 seafarers win in NRCO-ISP business plan competition

A project on ruminant feed production and distribution has won the grand prize in the 2017 National Reintegration Council for OFWs-Integrated Seafarers of the Philippines (NRCO-ISP) Business Plan Competition.

Jason Javier’s project titled “Total Mized Ration/Ruminant Feeds Production and Distribution,” was awarded a trophy and P500,000 in cash in a ceremony at the Dusit Thani Hotel, Makati City recently.

Ruminants are mammals such as cattle, goat and sheep that are able to acquire nutrients from plant-based food by fermenting in a specialized stomach prior to digestion, principally through microbial actions, according to Wikipedia.

The other two winners are Jennar Robocca for his “Car Wash Shared Economy Mobile Application project, 2nd place (trophy and P100,000); and Chad Dorego’s Ice Candy 2.0 project, 3rd place (trophy and P70,000).

Labor Secretary Silvestre Bello III, Overseas Workers and Welfare Administration chief Hans Leo Cacdac, NRCO-OIC Director Melvin Caseda and ISP president Capt. Gaudencio Morales led the awarding rites.

The competition was launched by the NRCO and the ISP to encourage seafarers to engage in business and promote financial literacy among them.

Many seafarers retire from work with nothing on hand because they failed to use their money wisely, Morales noted.

“With the knowledge in finance, they will be able to make business and continue providing for their families,” Morales said.

The ISP is conducting a regular monthly financial literacy seminar led by financial advisors, agribusiness experts and successful entrepreneurs for free.