The Department of Migrant Workers (DMW) has teamed up with private companies like BDO Unibank to help overseas Filipino workers (OFWs) achieve financial independence through the launch of the Balik Kabayan Bazaar, a livelihood initiative aimed at supporting returning OFWs in entrepreneurship.
As part of the collaboration, BDO donated “lemonade stand-style” booths for OFWs to sell products ranging from food to handicrafts. These booths are set up at the DMW grounds and managed by different returning OFWs, who rotate every two months. DMW provided each entrepreneur a seed capital of Php 20,000 to kickstart their ventures.
“Through DMW, we are given the opportunity to assist OFWs as they come back to the country. We are happy to take part in this campaign and witness our kabayans embark on entrepreneurship,” said Rene G. Abadilla, BDO Unibank’s Overseas Filipino Program unit head, in a Daily Guardian report.
The Balik Kabayan Bazaar is part of the government’s reintegration program, which offers OFWs livelihood development opportunities and assistance as they return to the country.
DMW Secretary Hans Leo J. Cacdac emphasized the importance of partnering with banks to promote financial literacy among OFWs and their families. “We want more people depositing in formal banking institutions… so banks can create financial products and services for them. This will benefit the economy and allow OFWs to fully capitalize on their overseas experience,” Cacdac explained.
BDO has also contributed additional support, such as air coolers and seating arrangements at DMW’s Balik Manggagawa area, further enhancing the reintegration facilities.
Wilma R. Abay, head of the OFW NCR Federations, expressed gratitude for BDO’s continued support, noting the importance of financial education and the loan options offered by the bank for micro-entrepreneurs. “We encourage balikbayan OFWs to save and set up their own business so they won’t need to go abroad again,” Abay said.
The Balik Kabayan Bazaar and similar initiatives aim to provide returning OFWs with opportunities to thrive locally, reducing their dependence on overseas employment.