MANILA, Philippines — The Department of Science and Technology (DOST) is offering livelihood assistance to overseas Filipino workers (OFWs) who wish to establish a business in the Philippines.
DOST Secretary Fortunato de La Peña said the Department has seven research and development (R&D) institutes that may assist OFWs to establish technology-based business should they wish to settle for good in their localities.
These technologies include food processing and packaging, furniture, electronics and metal works among others.
De La Peña said OFWs may avail of the free training which include assistance in designing a business plan to determine the amount of capital needed to start a business.
Selected OFWs will be given cash assistance of up to P250,000 which include the cost of equipment needed for the technology of their choice.
Training is free, and all they need to pay for is the equipment on installment basis within three years without interest, while the rest of the expenses will be shouldered by the DOST.
Upon full payment of the equipment, the DOST will transfer its ownership to the OFW.
Once the fund is available, the DOST plans to start the program in the National Capital Region (NCR).
This is the first time DOST has offered livelihood assistance primarily to help OFWs who were repatriated due to the crisis brought about by the coronavirus disease (COVID-19) pandemic.
Interested OFW may inquire at DOST cluster offices in Metro Manila. MNP (with details from Rey Pelayo)
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