Business Plan Competition Launched for Returning OFWs

2015-0701 Business Plan Competition Launched for Returning OFWs


MANILA: The Philippines’ National Reintegration Center for Returning OFWs (NRCO) is encouraging returning seafarers to participate in its business plan competition to encourage social entrepreneurship and eventually support the growth of jobs in hometowns and communities, reported Philippine Information Agency.

The nationwide competition, dubbed, “From Seafarers to Entrepreneurs: The 2015 NRCO-ISP Business Plan Competition (Harnessing Seafarers’ Capacities for Business Enterprise Development) have started accepting entries on June 26 and until August 30, 2015, the Department of Labor and Employment reportedly said citing a report of NRCO Director Chona M. Mantilla,

“This competition is DOLE’s innovative way of promoting sustainable livelihood and micro-enterprise by harnessing the earnings and savings of overseas Filipinos, especially our seafarers, as one source of capital for economic development. This is one of the thrusts in the 2011-2016 Philippine Development Plan, and in the 2011-2016 Labor and Employment Plan where the promotion of productive investment and entrepreneurship is highly encouraged among OFWs,” Labor Secretary Rosalinda Dimapilis –Baldoz was quoted as saying.

She added that the event is one strategic reintegration program of the DOLE to assist OFWs in securing the future of their families by capacitating them in carefully investing their hard-earned finances.

The NRCO, a new agency under the DOLE, is implementing the project in partnership with the Integrated Seafarers of the Philippines, or ISP, the report said.

Director Mantilla reportedly said that the awarding ceremony for the business competition will be on 4 December 2015.

The Top 10 winners will receive incentives and other consolation prizes, and the grand winner will get PhP500,000 cash prize, all to be put up by the ISP. The details of the competition will be announced during the media launching and will be posted at ph, reported Philippine Information Agency.


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