The special program, according to Francis Medina, Business Development Manager of Philippine Seven Corp. (PSC), allows OFWs to explore their own income-generating business option by using their remittances as significant “investment tools.”
“Studies have shown that OFWs nowadays no longer concentrate their remittances solely for their families’ basic consumption; in fact, most have used or saved up their remittances to finance other future pre-needs or necessities such as education, housing or land properties, health and small private businesses,” he noted.
“And with the population of migrant Filipino workers growing at 5% per year as they spread across various continents in the globe, imagine the overall buffering effect to the country’s economy, more importantly to the improvement of the quality of life of OFWs and their families, if their earnings or savings are channeled to finance potentially lucrative alternative business ventures such as a viable convenience store franchise,” said Medina.
Continue reading at Manila Bulletin
