Non-Resident Filipinos Boost Economy Through Remittances and Investments

Baguio: More than six million non-resident Filipinos (NRFs) continue to contribute to the country's economic growth through remittances, investments, and humanitarian assistance, Commission on Filipinos Overseas (CFO) Secretary Dante "Klink" Ang II said on Thursday.

According to Philippines News Agency, Ang highlighted that many NRFs are professionals whose higher incomes enable them to send more financial support to their families in the Philippines. He noted the positive impact of incremental salary increases, which allows NRFs to send larger remittances as their income grows.

Ang also emphasized that NRFs contribute significantly by investing in businesses and properties and providing assistance to communities affected by natural disasters. He explained that the CFO's mandate is to strengthen ties between non-resident Filipinos and the Philippines through economic, cultural, and civic engagement, which includes overseas voting.

'We connect NRFs to the Philippines through political, economic, and cultural engagement so they remain connected to the country and their children continue to know their Filipino heritage,' Ang stated. He further added that government programs encourage NRFs to improve their economic opportunities abroad, enabling them to support their families and create jobs through investments in the Philippines.

Ang addressed concerns about professionals leaving the country, asserting that they have improved their lives while continuing to help their families and fellow Filipinos, especially during calamities. The CFO's new Baguio office provides a larger space to serve clients from Baguio City and other provinces in northern Luzon.