The P1B Loan Program for Returning OFWs

A website that invites Pinoys abroad to seriously explore job opportunities at home. The Government has also offered an initial outlay of P1B available credit for OFWs who want to put up a business back home either as an individual or group borrower as a partnership, corporation or cooperative.

I wonder how many have taken advantage already of this available capital for business at a highly subsidized interest rates

Several opportunities for business-minded OFWs await at home, more so because the Philippine Economy is already picking up as evidenced by the recent credit ratings upgrade given to the Philippines by Moody's Investors Service and Fitch Ratings after almost eight years while the big economies of the US and Europe are experiencing a sustained downturn, with the US and Greece contemplating on declaring a default on their sovereign credit obligations.

The Philippine economy is seen by the Asian Development Bank (ADB) to grow at around 4.6%-5% this year and up to 5.3% in 2012, while the US economy long-term credit outlook is being downgraded by Standard and Poor's Ratings Services from "stable" to "negative". This should tell us that windows of opportunities for business are now opening up here while the opposite is happening in the usually progressive economies in the West, including Italy.

How about giving a serious thought on these things and invest back in our country?

Website invites Pinoys Abroad to Explore job opportunities at home

Monster Philippines launched its ‘Return2Home’ program to encourage Filipinos residing overseas to explore available job opportunities in the country. The initiative is to target and connect with Pinoy jobseekers all over the globe and connect them with the foreign companies and employers doing businesses in the Philippines who are looking for skilled workers and professionals.

Potential opportunities in fields of mastery are the following: in OIL & GAS - recently, the Philippine Government has awarded offshore oil drilling contracts to several oil drilling companies off Palawan, Romblon, Masbate; MEDICAL SERVICES - several high-end medical institutions like St. Luke’s, Asian Hospital, Makati Medical, etc are expanding to serve foreign clients as well with the entry of big investors like Manny Pangilinan into this industry; and RESEARCH & DEVELOPMENT in several key industries, especially in IT and microchip design; and EDUCATION because International Schools are now expanding to cater to both Pinoy and expat enrollees.

Because based on 2010 data, the Alien Employment Permits issued by the Philippine government through the Department of Labor and Employment (DOLE) to foreign nationals have increased by 47%, and this gave birth to the big question: Why not take advantage of this opportunities if you have the same skill and qualification?

‘Return2Home’ Program is aimed to attract the right candidates with relevant global experience in their field of expertise, capitalizing on their advantage of being culturally attuned to the Philippines.

The Philippine economy is now dynamic and expanding, proving its resilience against the backdrop of the worst global economic recession, economic restructuring and downsizing witnessed around the globe.

The ‘Return2Home’ Program might just be the perfect window of opportunity for Pinoy expats who are hit hard by the economic downturn abroad.