Philippines to allow foreign investors to enter from Nov. 1

Jamaine Punzalan, ABS-CBN News

Posted at Oct 23 2020 11:20 AM | Updated as of Oct 23 2020 03:07 PM

Philippines to allow foreign investors to enter from Nov. 1 1
Personnel at the NAIA Terminal 1 in Parañaque City wear face masks as a precaution on Jan. 23, 2020, as the country raises the alert to prevent the spread of the COVID-19 disease. Mark Demayo, ABS-CBN News/File

MANILA - Foreigners with investor's visa will be allowed to enter the Philippines from Nov. 1, Malacañang said Friday, as authorities sought to boost the pandemic-battered economy. 

The inter-agency task force leading the pandemic response, in its Thursday meeting, allowed the entry starting next month of foreign nationals with investor visa from the Bureau of Immigration, said Presidential Spokesperson Harry Roque. 

Foreigners with 47A2 visas from the Department of Justice, and visas from the Aurora Pacific Economic Zone and Freeport Authority and the Subic Bay Metropolitan Authority will also be allowed, he said in a Laging Handa public briefing. 

"They must have valid and existing visas at the time of entry and must likewise have a pre-booked accredited quarantine facility," Roque said in a statement. 

"In addition, they must be subject to the maximum capacity of inbound passengers at the port and date of entry and must follow applicable immigration laws, rules and regulations," he added.

Foreign tourists are still banned, said Roque. 

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The Philippines imposed travel curbs in February to stem the spread of the novel coronavirus. The easing of travel restrictions is among a slew of relaxed rules announced on Friday to help the country's economy recover from recession. 

The country is forecast to see a 6.9 percent economic contraction this year, the World Bank has said, the biggest since the 1980s and worse than the government's projected 5.5 percent decline.

The health department on Thursday confirmed 1,664 new coronavirus infections, the third straight day of fewer than 2,000 additional daily cases, and 38 more deaths. In a bulletin, the ministry said total confirmed infections had risen to 363,888, while deaths have increased to 6,783. 

- With a report from Reuters