|
Monday, October 31, 2005
Business opportunities for OFWs widened
IN A bid to encourage more overseas workers to become entrepreneurs, the Overseas Workers Welfare Administration (Owwa) in Region 12 has expanded the coverage of its ongoing business development program for local overseas workers and their dependents.
Owwa 12 director Abdulghani Umag said they are currently working out for the establishment of business ventures like grocery stores, pharmacies, and other related projects that would be managed by Overseas Filipino Workers (OFW) and their dependents.
The program, which was launched by the Owwa central office last year, entitles OFWs registered with the OWWA to obtain capital loans from the agency's credit facility.
Umag said individual or groups of OFWs and their dependents may avail of a P50,000 loan through Owwa regional offices as startup capital for a business project.
The loans that may be availed without any collateral, is payable without any interest.
Umag said the program started in Region 12 in August last year with the establishment of at least 15 grocery stores in Malapatan and Maasim towns in Sarangani, Lambayong, and Esperanza in Sultan Kudarat, Surallah in South Cotabato and Kidapawan City, Tulunan and Aleosan in Cotabato Province.
"The projects were so far very successful. In fact this is the same reason why we decided to expand its coverage to cater to more OFWs and their dependents," he said in a press conference in Koronadal City.
Umag added the program initially catered to the establishment of grocery "since it is the easiest way to teach them (OFWs) to become entrepreneurs."
But he said they eventually decided to diversify into other ventures like the establishment of community-based drug stores, food processing business, and other technology-based activities.
According to Owwa 12's records, at least 500,000 OFWs from the region are currently working in various countries in Asia, Middle East, Europe and the Unites States. (Allen V. Estabillo)
(October 31, 2005 issue)
Write letter to the editor. Click here.
Join the Sun.Star message board. Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
|
