Presidential Communications Operations Office

  PIA Bldg, Visayas Ave, Diliman, Quezon City, Philippines
  Monday, 21 October 2019 News Before 1 Feb 2012. Click for Latest
Web PIA  
 << October 2019 >> 
1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31
Special News Editions:
PIA Specials:
NEW! Cabinet Officials
Jobs.Slides.Specials.Ads. Events.ASEAN.Multimedia
Visitors since 15 Feb 2011:
PIA News Archive:
PIA Archive News Reader

PIA Press Release

GMA signs EO launching job generation visa

Manila (18 November) -- President Gloria Macapagal-Arroyo signed an executive order that would allow foreigners to stay in the Philippines indefinitely provided they will employ at least 10 Filipinos.

The President signed the Executive Order (EO) No. 758 during a brief program held yesterday morning at the Malacanang Rizal Hall and attended by Immigration Commissioner Marcelino Libanan, Trade and Industry Secretary Peter Favila, Justice Secretary Raul Gonzales, Special Envoy Francis Chua, and Shameem Qurashi, chairman of the Philippine Association of Multi-National Council Regional Headquarter, Inc.

Libanan, who thanked the President for signing EO No. 758, said the President's action is timely because the launching of the job-generation visa would mitigate the negative impact of the current economic meltdown on the Philippine Economy.

EO No. 758, which has the effect of a law, prescribes guidelines for the issuance of a special visa to non-immigrants for employment generation.

Libanan said in an interview after the signing of the executive order that it would be easier now for foreigners to do business in the country as EO No. 758 waives the requirements for visa applications and encourages them to bring their investment into the country.

He said a foreigner who employs 10 Filipinos must invest at least P200 million because one job creation costs P10 million. This would be an active investment because the foreign investors pay monthly compensation to their employees, "thus it revolves the economy, hindi tulad ng nangyayari ngayon na inactive and investments."

Under the guidelines, the BI shall issue Special Visa for Employment Generation (SVEG) to a foreigner engaged in viable and sustainable commercial enterprise, trade or industry that has in its employ at least 10 Filipinos.

Foreigners who acquire the visa are considered special non-immigrants with multiple entry privileges and conditional extended stay, without need of prior departure from the Philippines.

Also, the same visa may be extended to the visa applicant's spouse and dependents under 18 years of age, whether legitimate, illegitimate, or adopted.

The guidelines also provide that aside from investing in a particular business, the visa applicant must also have a genuine intention to remain in the Philippines and he or she must not be a risk to national security.

President Arroyo directed the BI to continuously monitor the continued compliance by the visa holders of the SVEG, and authorized the BI commissioner to revoke the visa of a foreigner found to have violated the conditions of his visa. (PIA-MMIO) [top]

|«  prev  next  »|
»Region 6 broadcasters in seminar saddened by death of facilitator
»GMA signs EO launching job generation visa
»PGMA to keynote municipal mayors at Manila
»PGMA to award P2.19-M in cash to top farmers, fishers and agri groups
»PGMA renews call for national unity
»PGMA cites tourism as catalyst for economic development
»ASEAN Charter enters into force next month
»DOLE to deliver basic services to Capiceņos
»DOLE service caravan hires 20 Samar job hopefuls
»Cebuano News: PGMA milagda ug kamandoan alang sa paghatag ug trabaho
|«  prev  next  »|

Philippine Official Gazette | Office of the President | Presidential Communications Operations Office
For comments and feedback, please email PIA Newsdesk
Copyright © 2005 Philippine Information Agency
PIA Building, Visayas Avenue, Diliman, Quezon City 1101 Philippines