Visa-free entry prvilege for foreign investors of Subic and Clark

The Bureau of Immigration (BI) announced that as an added incentive, foreign investors visiting the Freeport zones in the country – Clark, Pampanga and Subic, Zambalez, can avail of the government’s “visa-free” program. An agreement was signed recently by BI Commissioner Marcelino Libanan with Subic Bay Metropolitan Authority (SBMA) administrator Armand Arreza and Clark Development Corp. (CDC) president Benigno Ricafort on the issuance of the visa-free entry privileges to foreign investors who are visiting the two freeports. The agreement signed provides for the officers and personnel of a foreign locator in the two freeports to be allowed to enter and stay in the Philippines without a visa for a period of 14 days. The said privilege however, will be extended only to those who are arriving through the Diosdado Macapagal International Airport (DMIA) or the Subic Bay International Airport (SBIA). “The agreement provides that the foreign locator shall vouch for their officers and personnel coming here and shall notify the SBMA chair of CDC president who shall approve the grant of the visa-free entry privilege,” the Bureau of Immigration said. Together with the “visa-free” entry privilege, officers and personnel of foreign location can also apply with the BI for a landed visa. This visa would allow them to travel to other areas in the Philippines for the purpose of exploring investment opportunities outside the Freeport zones. This privilege being given by the BI for foreign locators of Subic and Clark is part of the agency’s thrust in attracting more tourists and investors in the country. For his part, Arreza agree that this will help attract more foreign investors to do business in Subic and Clark, and other parts of the country. It would also send signal to other foreign investors that the government is serious in courting more foreign investment that will create more jobs and improve the economy of the Philippines.