10 September 2014 - The Philippine Consulate General together with Overseas Workers Welfare Administration (OWWA) Milan sponsored a seminar on financial literacy with the theme “Sama-sama sa Pag-ahon ng Bayan,” in Bologna on September 6. The seminar was organized as part of the Consulate’s Gender Awareness Development initiatives. Working women from various Filipino associations in that city attended the seminar. 

In her opening remarks, Philippine Consul General Marichu Mauro stressed the importance of empowering working women not only in the work place but also as individuals. She encouraged the participants to take advantage of the economic growth in the Philippines and support the country’s various economic initiatives by investing in the sectors of their choice. The Consul General also mentioned that the financial literacy or education is important in promoting the overseas Filipino worker’s (OFW’s) entrepreneurial spirit and strengthening their business acumen.

The resource speakers were Ms. Cynthia Lamban, Acting Labor Attaché and Mr. Randy Lamsen, Area Director of Filinvest International. The seminar touched on the goals of the participants and their reasons for working abroad. It was acknowledged that OFW stories are not always successful, with some of them ending up without financial stability in their old age.

The seminar succeeded in conveying that each individual has the power to invest and save starting from being financially literate and being aware of investment opportunities. Types of investments are insurance, variable unit insurance, stocks and real estate, among others. Being healthy is also considered as an investment because it avoids spending money on medicines. Ms. Lamban talked on the various investment schemes and facilities offered by the Philippine government to  OFWs.

The seminar, organized in cooperation with the Associazione Donna Filippine (Filipino Women Association), was held for the first time in Bologna which was well appreciated by all the participants. END