CFO pushes more initiatives for overseas Filipinos

​THE Commission on Filipinos Overseas (CFO) is collaborating with the Securities and Exchange Commission (SEC) to strengthen diaspora engagement and nation-building initiatives for overseas Filipinos. ​CFO Secretary Dante Ang II and SEC Secretary Francis Lim explored areas of cooperation aimed at encouraging greater investment, entrepreneurship, and civic participation among Filipinos living abroad. Ang outlined the CFO’s mandate and flagship programs, emphasizing the agency’s distinct role in serving Filipino emigrants and permanent migrants. These groups account for more than half of the estimated 10.7 million Filipinos worldwide. He also clarified the CFO’s functions vis-à-vis the Department of Migrant Workers and the Overseas Workers Welfare Administration, which primarily focus on the protection and welfare of overseas Filipino workers. ​Ang highlighted the CFO’s three pillars of diaspora engagement — political, economic, and cultural participation — as central to its mission of harnessing the global Filipino community’s potential for national development. ​Among the programs presented were Lingkod sa Kapwa Pilipino (LinKaPil), which channels diaspora philanthropy to local communities; BaLinkBayan, an online one-stop portal facilitating diaspora investments and business linkages; and PESO Sense, a financial literacy initiative designed to promote informed financial decision-making among overseas Filipinos and their families. ​Lim detailed the SEC’s initiatives to encourage overseas Filipinos to invest in and establish businesses in the Philippines. He acknowledged that while interest in entrepreneurship remains strong among members of the diaspora, regulatory requirements and permitting processes continue to pose challenges. ​Lim stressed the importance of simplifying procedures, improving client experience, and strengthening investment and entrepreneurship education. He noted that collaboration with the Department of Education and the Commission on Higher Education would be crucial in embedding financial and business literacy in the education system. ​Ang expressed the CFO’s commitment to supporting the SEC through strategic communications campaigns targeting overseas Filipinos and invited the agency to participate in the CFO’s Ugnayan Series engagements abroad, which serve as platforms for dialogue between government agencies and Filipino communities overseas.