Iloilo City (13 April) -- The Philippine Retirement Authority (PRA) has tasked itself to promote the Philippines as a retirement haven in Southeast Asia, targeting to generate about $44 billion investment by the year 2015.

PRA Chair Retired Gen. Edgar B. Aglipay said PRA as a flagship project of President Gloria Arroyo, is targeting overseas Filipinos and foreign nationals, with a package of good quality of life at affordable costs.

Aglipay also said that PRA’s efforts are focused on three sectors, namely housing, lifestyle services and healthcare.

He said retirement is a billion-dollar industry, with the trends in an ageing population the world over, many of those who were born between 1946 and 1964 are soon set to retire.

Recently, PRA launched its campaign, “Smile at Life,” which captures the spirit of what the Philippines can offer to retirees. The logo of the brand campaign depicts the sunny and warm dispositions of the Filipinos, famous for their vibrant culture, hospitality, friendly English-speaking population, natural attractions and tropical climate.

Aglipay said that as to health care needs of senior retirees, Filipino expertise on health care shows well-renowned excellence.

The PRA Chairman also said that the project will be more successful with the support, aggressive participation of the private sector and that of the media, in highlighting the Philippines as a country of “positives”.