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MANILA (PNA)
The Overseas Workers Welfare Administration (OWWA) today unveiled a stock
investment program for overseas Filipino workers (OFWs) and their families,
in coordination with the Philippine Stock Exchange (PSE).
The OFWs, recognized as the country's modern day heroes for their dollar remittance
to the country, were considered as potential market for stock investments,
according to OWWA Administrator Virgilio Angelo.
To kick off the program, the OFWs will be given free orientation seminars
starting December 12, 2002 at the OWWA multi-purpose hall.
In its news bulletin released Wednesday, the Department of Labor and Employment
also announced that stock brokers will be leading these seminars on stock
investments.
Stock investments have been seen as indicators of a country's buoyant economy.
"OFWs can profit from investing wisely on stocks, while continue playing their
pivotal role in keeping the country's economy afloat," Angelo said.
He said OWWA views the seminar as a relevant initiative for its Re-integration Program and that the same may contribute
in concretizing President Gloria Macapagal-Arroyo's vision of converting OFWs
into overseas Filipino investors (OFIs).
The OWWA's reintegration program equips and trains OFWs to engage in livelihood
projects and become entrepreneurs once they decide to stay home for good.
The scheme will see leading OFWs taking the direction of becoming the country's
premier investors in line with the vision of encouraging them to wisely invest
their hard-earned money in the country, Angelo also said.
Angelo expressed confidence the new scheme being worked out by the OWWA and the PSE will further revitalize the country's
economy by way of the projected investments by OFWs.
In the wake of the absentee voting bill being readied by Congress, latest
statistics have shown that there are now some seven million OFWs deployed
worldwide, with Saudi Arabia, Hong Kong and Singapore as leading destinations
for Filipino workers.
This does not include the more than two million Filipinos who have successfully
migrated to the United States. (PNA)
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