Mayoyao Ifugao - The National Economic Development Authority (NEDA) is now targeting the integration of more overseas Filipino workers (OFWs) back to the Philippines through entrepreneurial programs to drive investments in the micro, small and medium enterprise (MSME) sector.

"We are beefing up efforts to reintegrate OFWs so we can harness their experience and expertise in contributing to the country's socioeconomic development," Arsenio M. Balisacan, NEDA Director General and Socioeconomic Planning Secretary, said in a statement.

He explained that the resources brought by OFWs will help generate employment and contribute to the growth of MSMEs in the country.

The recently released Socioeconomic Report (SER): 2010-2012 by NEDA showed that the government put up the BALinkBayan (“Business Advisory Link para sa Bayan”) website to help OFWs set up businesses and investments in the Philippines. This was done through the Commission on Filipino Overseas and the Department of Trade and Industry (DTI).

The said 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.

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 mentioned in the same report.

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. And 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.

Small enterprises in the country have also been provided assistance by ASENSO (Access of Small Enterprises to Sound Lending Opportunities), formerly known as SULONG, while microenterprises have received financial and technical assistance from the Rural Micro Enterprise Promotion Program (RuMEPP).

In detail, the RuMEPP has assisted a total of 44,061 microenterprises who 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. (NEDA/RJB/JGR/PIA-NCR)

source: ugnayan.com