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Filipinos in SG Encouraged to Explore Franchising as Investment
Mr. Richard Macalintal, head of the Global Filipino Investors, take a group selfie with the participants, organizers and PH Embassy officials, led by Ambassador Antonio A. Morales, after delivering his opening remarks at the Smart World Negosyo Caravan.

16 January 2016 – Philippine Ambassador to Singapore Antonio A. Morales encouraged Filipinos in Singapore to take advantage of the upbeat economic environment and thriving businesses in the Philippines by investing their earnings in the country. The Ambassador said this during his welcome remarks at the Smart World Negosyo Caravan held last 14 January at the AIA Tampines.

“We are not here (in Singapore) for the rest of our days and most of you are interested in coming back to the Philippines and establish businesses,” Ambassador Morales added.

Ambassador Morales delivering his welcome remarks.

The said event, which was co-organized by PLDT Singapore, the Global Filipino Investors (a Filipino community group in Singapore that promotes financial literacy and entrepreneurship among OFWs), and Philippine Franchise Association (PFA), among others, briefed Filipinos on franchising as a means of investing their income in PH.

Among the speakers who shared their insights on starting your own business and franchising were Ms. Sherill Quintana (PFA Director for South Luzon and CEO of Oryspa Spa Solutions, Inc.), Mr. Federico Moreno (President of Xcess Salon), and Ms. Dana Cuneta (Strategic Planning Consultant of Francorp Philippines).

Mr. Federico Moreno of Xcess Salon gave a presentation on “How to be a Successful Entrepreneur”

Commercial Counsellor Glenn G. Penaranda also gave a presentation on the support provided by the Department of Trade and Industry (DTI) for budding entrepreneurs through its Negosyo Centers in line with DTI’s core policy thrusts on employment and entrepreneurship.

Both Ambassador Morales and Commercial Counsellor Penaranda emphasized President Rodrigo R. Duterte’s focus on SMEs which he conveyed during his recent State Visit to Singapore last December. Mr. Penaranda even reported that DTI Secretary Ramon M. Lopez met with various Overseas Filipino Investor (OFI) Groups on 15 December 2016 at the sidelines of the President’s State Visit in support of their advocacy.

Commercial Counsellor Glenn G. Penaranda gave a talk on the support given by DTI for budding Filipino entrepreneurs

“One common feature among developed countries like the US and Singapore is a strong, vibrant middle class and SME sector,” Ambassador Morales said to further inspire OFWs to penetrate PH’s SME sector by becoming entrepreneurs and franchisees themselves.