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Govโ€™t extends visa-free entry privilege to foreign investors at Clark, Subic

MANILA, March 7 โ€” The Subic Bay Metropolitan Authority (SBMA) and Clark Development Corporation (CDC) have signed an agreement with the Bureau of Immigration (BI) for the issuance of visa-free entry privileges to foreign investors visiting the two freeports.

Under the agreement signed by SBMA Administrator Armand Arreza and CDC president Benigno Ricafort with BI Commissioner Marcelino Libanan, officers and personnel of a foreign locator in the two freeports may now enter and stay in the country without a visa for a period of 14 days.

However, the privilege will only be extended to those arriving only through the Diosdado Macapagal International Airport (DMIA) or the Subic Bay International Airport (SBIA).

SBMA Administrator Armand Arreza said the agreement will help attract more foreign investors to do business in Subic and Clark as well as send a signal to other foreign investors that the government is serious in courting more foreign investments that will create more jobs and improve the economy.

โ€œMore than the convenience that the agreement will provide foreign locators in Subic and Clark, the visa-free entry will encourage more investments from Taiwan โ€”which is now one of the biggest in Subic โ€”and invite other foreign investments to do business in the freeport zones,โ€ Arreza said.

Commissioner Libanan said the visa-free entry privilege for foreign locators in Subic and Clark is part of the BIโ€™s ongoing thrust to attract more tourists and investors to the Philippines, aside from merely guarding against the entry of terrorists, transnational criminals and other undesirable aliens.

Aside from tightening the BIโ€™s guard against the entry of undesirable aliens, Libanan introduced reforms, like cutting red tape and providing visa incentives to foreign investors to encourage them to visit and invest in the country.

The agreement provides that the foreign locator shall vouch for their officers and personnel coming here and shall notify the SBMA chair or CDC president who shall approve the grant of the visa-free entry privilege.

Upon his arrival, the investor is then to move freely within the freeport zones throughout the duration of his or her stay.

The agreement also said that these officers and personnel of foreign locators may apply with the BI for a landed visa so they can travel to other areas of the Philippines that they wish to visit for the purpose of exploring investment opportunities outside the two freeports. (PNA)

LDV/FMB

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