Our OFWs as our major investors

Until now, governments have depended mostly on business and investment, mostly from outside, to develop the Philippine economy. Despite the major role of mi-grant remittances in supporting our economy, we still have to see any government offering or enticing the huge number of OFWs to be major investors for our country.

Recent news have shown P.Noy meeting with business people, abroad and within the country. He has promised better procedures, better government guarantees, and more incentives for investors from the foreign and local business sector.

Why not campaign and include our own OFWs as major, if not the priority inves-tors for the development of our country?

There are more than 8 million Filipinos abroad. Even if only a million or less than a million responds to the call for investments, if they pool in their money together, how much millions do you think can be raised even if each migrant merely throws in a mere US100 investment?

Certainly, there are OFWs who can afford to invest more than US100 per month. If tapped by government, the investment of our own migrants can top the amount raised by other foreign or local business investors.

Relying on our own migrants' investments has many positive points for our gov-ernment and our country. One, our country can help extend and expand the hard-earned savings of our migrants. Doing so will sustainably stabilize the financial situation of our migrants and their households.

Aside from regular remittances, we know for a fact, based on our continuing re-search on migrants, that our OFWs still have more to spare for savings and investments. They also wish to save and invest in the Philippines so that they can get more interest for their money. More importantly, they want their savings and investments as well to be linked to the reconstruction of our country. They do not wish for more Filipinos to be forced to migrate and be separated from their families as our OFWs know the pain of be-ing alone abroad. Our OFWs just have to be shown how and where to invest their hard-earned earnings.

Having our OFWs as investors can also ensure more lenient terms from them rather than from unsympathetic investors whose only goal is to gain profit for themselves, not to help our country or our people. There are investors who insist on privileged agree-ments that may be disadvantageous for our country, our people and our environment. Our own OFWs as investors will tend to understand and demand only that which will be good for our people and our country.

Relying on our own OFWs as investors can also serve as a model for self-reliant development. We can stand taller and prouder knowing that our own OFWs are support-ing our people and our country to be more sustainably productive and prosperous. Secu-rity is also more assured if our people themselves, our own OFWs themselves are our ma-jor investors as they will surely prefer to protect and support our country sustainably.

We hope the present government can explore ways to involve our OFWs as our country's major investors by presenting them the same investment portfolio and privi-leges accorded to foreign and local business investors.

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