Baghdad:The Department of Agriculture (DA) is urging overseas Filipino workers (OFWs) in Singapore to consider investing in the agriculture sector by exploring agribusiness opportunities in the Philippines. This initiative is part of the agency's broader efforts to connect Filipinos abroad with potential investment ventures back home.

According to Philippines News Agency, the DA hosted the second Usapang Agribiz sa Singapore, attended by 127 OFWs on October 25. DA Assistant Secretary Genevieve Velicaria-Guevarra emphasized that the initiative forms part of the government's plans to make agricultural programs more accessible to the public.

Under the Balik Agri-OFW Reintegration Program, the government aims to streamline access to necessary services and programs, facilitating OFWs' transition into agribusiness. The Department of Migrant Workers (DMW) highlights that Singapore is the second-largest source of OFW remittances, contributing approximately USD 2.45 billion annually. These remittances are seen as potential capital for agribusiness investments.

For OFWs interested in agribusiness, it is crucial to understand market demand, production and operating costs, regulatory requirements, and associated risks. The goal is to transform OFWs with business aspirations into knowledgeable and successful agripreneurs in the Philippines.

Currently, about 220,000 Filipinos reside and work in Singapore, including professionals, skilled workers, and household service workers.