11 September 2014 - The Philippine Consulate General in Milan in partnership with the Overseas Workers Welfare Administration (OWWA) sponsored a seminar on financial literacy in Genova on September 7 attended by Filipinos from various organizations in the area. The theme of the seminar was “Sama-sama sa Pag-ahon ng Bayan.”

Vice Consul Maria Rosanna O. Josue expressed her appreciation for the presence of the participants stating that this was an important opportunity for them to gain knowledge on how to manage their finances.

The resource speakers were Ms. Cynthia Q. Lamban, Acting Labor Attaché, and Mr. Randy Lamsen, Area Director of Filinvest International. Mr. Lamsen started his presentation on the reasons why Filipinos go abroad, inviting the participants to also share their goals. He summarized that overseas Filipino workers (OFWs) are not always successful in pursuing their goals, so they must avoid returning home with no savings at all. He emphasized the importance of following the formula: “earnings minus savings equals expenses.” Mr. Lamsen gave an overview on the various types of investment opportunities which include insurance, mutual fund, variable unit linked (VUL), stocks and real estate.

Ms. Lamban spoke about loan facilities and investment schemes especially on agribusiness offered by the Philippine government to OFWs.

The seminar ended successfully, and as this was the first time in Genova, it was well appreciated by the participants. END