OFWs urged to turn remittances into agribusiness investments

Overseas Filipino Workers (OFWs) in Macao and Hong Kong were recently invited to explore a new route for their hard-earned savings by investing in agribusiness ventures that offer both financial return and long-term reintegration into the Philippine economy.

In a two-day forum dubbed Usapang Agribiz, the Department of Agriculture-Agribusiness and Marketing Assistance Service (DA-AMAS), in partnership with the Department of Migrant Workers (DMW) and the Office of the Agriculture Counsellor to China, unveiled a series of viable agri-based investment opportunities to Filipino workers abroad. The event was held on 28 June in Macao and 29 June in Hong Kong.

The forum, attended by 214 OFWs – 87 in Macao and 127 in Hong Kong – highlighted how overseas income can be transformed into productive assets back home. Participants received direct exposure to investment models, financing mechanisms, and government programs tailored to encourage entrepreneurship in poultry, livestock, crop production, and food processing.

With more than 138,000 Filipinos in Hong Kong and over 26,000 in Macao, the twin sessions form part of a broader push by the Marcos administration to tap into remittance capital for local economic growth. OFWs collectively sent over $36 billion in remittances in 2024 alone, a figure that continues to play a critical role in national development.

Atty. Genevieve Velicaria-Guevarra, Assistant Secretary for Agribusiness, Marketing, and Consumer Affairs, led the delegation and underscored the government’s goal of converting returning OFWs into agri-entrepreneurs.

“Your hard work, remittances, and resilience keep our economy afloat. And now, by exploring agribusiness, you are taking the next bold step – not only in securing your future, but in ensuring food and nutrition security, rural development, and economic sustainability for our country,” she said.

Philippine Ambassador to China Jaime FlorCruz likewise emphasized the country’s potential as an agricultural economy.

“It’s important that we earn, it’s important that we save – but what matters most is that we grow what we’ve saved. Why venture into agribusiness? Because the Philippines is still, at its core, an agricultural country,” he emphasized.

The event spotlighted real-life examples of OFWs who successfully transitioned into agribusiness. Cecilia Corpus of RP Corpus Sales Enterprise and Rebecca Tubongbanua of McNester Food Products shared their journey from working overseas to building food enterprises in Central Luzon and Western Visayas, respectively – through DA assistance in product development and market linkage.

Technical sessions followed, covering viable agri-investment options across multiple value chains. Dr. Rene Santiago of the Bureau of Animal Industry outlined business opportunities in poultry and livestock, while Engr. Regine Patino from the High Value Crops Development Program highlighted crops with strong export and domestic demand.

Recognizing that access to capital and knowledge remains a key concern, DA officials also rolled out tools to help OFWs get started. Magdalena Casuga from the Agricultural Credit Policy Council introduced flexible financing instruments for agripreneurs.

Segundo Guerrero Jr. of the Philippine Crop Insurance Corporation discussed insurance programs for smallholders, and Engr. Remelyn Recoter of the Agricultural Training Institute presented technical training programs for OFWs and their families.

Usapang Agribiz forms part of a larger government roadmap that sees returning OFWs not only as consumers or dependents, but as potential investors and producers – especially in the agriculture sector, which remains central to food security and rural employment.

DA-AMAS said follow-up support in the form of technical assistance, mentoring, and market matching will be made available to interested participants.

For OFWs looking to make their return home a productive one, the forum provided both the tools and the mindset to begin anew – not just with savings, but with sustainable enterprises rooted in the Philippine soil.