In a significant move to support overseas Filipino workers (OFWs) and their families in their entrepreneurial endeavors, the Department of Migrant Workers (DMW) and the Department of Trade and Industry (DTI) have formalized a partnership. On January 14, 2025, at the Migrants Brew in Makati City, DMW Secretary Hans Leo Cacdac and DTI Secretary Ma. Cristina Roque inked a memorandum of agreement aimed at facilitating the reintegration of OFWs into their communities through business ventures.
The agreement is designed to empower OFWs and their families by providing them with the necessary tools and resources to start or expand their micro, small, and medium enterprises (MSMEs). Key components of the initiative include promoting franchising as a viable investment option, offering entrepreneurial training, seminars, and workshops, and enabling OFWs to participate in and showcase their products at Philippine trade fairs.
DTI has committed PHP500 million to the OFW Franchise Fund, which is specifically designed to assist Filipino migrant workers and their families in growing their businesses. Additionally, a PHP1 billion business expansion program has been established. These financial aids come with favorable terms, such as no collateral requirement, only a business name registration needed, and an interest-free first year on loans. Repayments can start in the second year, with options to pay either the principal plus interest or just the interest.
Secretary Roque emphasized the goal of these initiatives: to help OFWs return home not only to reunite with their families but also to establish a sustainable livelihood. She highlighted the desire to change the narrative of OFWs returning home bankrupt and ill, aiming instead for them to have a solid foundation upon which they and future generations can build.
Through this collaboration, part of the broader National Reintegration Network, the DMW and DTI are working together to ensure that OFWs can reintegrate into their communities more successfully and sustainably.