OWWA joins forces with BDO for OFW reintegration
OWWA and BDO Unibank work together for OFW reintegration during the National Workers’ Day held recently at SMX Convention Center, Mall of Asia.
Overseas Filipino Workers (OFWs) leave for countries where they can earn more than they ever could at home, thus ensuring that their children get to go to school, the family has enough food on the table and a roof over their head.
The question is, what’s in store for them when their work contract ends?
Most have a plan to work for themselves and earn an independent income, but they have only a vague idea how to go about it. They need help to make the plan a reality.
That, in a nutshell, is what the Overseas Workers Welfare Administration (OWWA) and the BDO Unibank propose to do.
At the National Migrant Workers’ Day held at SMX Convention Center, Mall of Asia, recently, OWWA and BDO Unibank work in tandem to get OFWs to look beyond their day-to-day life and focus on long-term financial goals.
OWWA set the theme—OFW Kabuhayan Expo 2027—while BDO Unibank fleshed it out, providing the financial solutions and insights to help OFWs better manage their finances.
Administrator Patricia Yvonne “PY” Caunan of OWWA said helping OFWs succeed in the reintegration process requires the support of the government and the private sector. She noted that the returning workers need to learn new skills or, if they have the knack for it, to go into business.
The BDO Unibank provides OFWs with reliable, fast, and secure remittance services, but it does not stop there.
According to Genie Gloria, BDO senior vice president and remittance chief, the bank also gives these modern-day heroes “access to financial tools that help them save, manage their finances, and help them navigate their way toward a secure future when they get home for good.”
The magic word is reintegration, and the process goes beyond the act of simply coming home. It means preparing the returning OFWs for a new chapter of their life, through financial planning, skills training, entrepreneurship, all to help them build a sustainable source of income.
One of BDO’s remittance partners, is of the same view. Called Xoom, the company noted that remittances, when carefully husbanded, can fund education, homeownership, a business venture, the very things needed for a successful homecoming.
Take the case of cruise ship waiter Carlo Cascaño, who considers setting up a rice distribution franchise or water refilling station with his wife.
Aldrin Cardehas has already made that transition. After 18 years working in different countries, he is now busy with his agribusiness venture.
Summing it all up, Ms. Gloria observed that every OFWs carries a dream for the family they leave behind.
“Our goal is to help them transform their years of sacrifice into lasting opportunities through savings and long-term financial planning, skills training, and entrepreneurship,” she said.
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