Posted at 07/22/2013 3:27 PM | Updated as of 07/22/2013 3:27 PM
MANILA – Returning overseas Filipino workers affected by the
crisis in Europe and in the Middle East are encouraged to try
agri-business."OFWs wanting to engage in agribusiness can tap the government's entrepreneurial assistance fund under the National Reintegration Program for OFWs which include training and capability-building, as well as business capital loans ranging from P300,000 to P2 million from the P2 billion Reintegration Loan Fund offered by the Land Bank of the Philippines and guaranteed by the Overseas Workers Welfare Administration," Labor and Employment Secretary Rosalinda Baldoz said.
The loan carries an interest of only 7.5 percent per year and has a repayment term of five years extendible to seven years.
Baldoz said that under the partnership with the Department of Agriculture, returning OFWs can choose among the 37 agribusiness modules it has developed.
"These 'ready-to-roll' modules already contain detailed information on needed capital, location of business, market, cost, and rate of return on investment. It is an irresistible offer. The OFW can be in agribusiness in no time if they accept the offer, which comes with a complete array of technical services from agriculture experts," said Baldoz, adding that agribusiness is a priority area under the National Reintegration Program for OFWs.
The agribusiness modules are for agri-crops, including livestock production (20 investment opportunities); fishery (4); processed fruits (3); and meat processing (10 investment opportunities).
"What makes this program different is that no less than the Secretary Alcala has pledged to deliver all possible technical assistance to OFW-investors for free. On the part of the DOLE, we are ready with our enterprise development training and other reintegration services, even with start-up capital," Baldoz emphasized.
http://www.abs-cbnnews.com/global-filipino/07/22/13/returning-ofws-urged-venture-agri-business
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