By Marvin Sy
President Arroyo has liberalized the rules on the issuance of non-immigrant visas to foreign investors as part of government efforts to generate more employment for Filipinos.The revised guidelines were contained in Executive Order No. 758, which the President signed yesterday in Malacañang.It was one of the rare occasions that the signing of an E.O. was done in public, in order to emphasize the significance of the order to the current economic condition in the country.
Government has been finding ways to pump prime the economy and protect the poor from the effects of the global financial crisis.
E.O. 758 was issued to promote job creation by allowing non-immigrants to stay in the country for an indefinite period for as long as they would invest money and provide employment for Filipinos.
Mrs. Arroyo cited the data of the National Statistics Office indicating that there are around 2.9 million Filipinos who are unemployed as of April 2008.
“Creation of job opportunities for the Filipino is one of the advocacies of the Arroyo administration under its 10-point agenda,” the EO stated.
The order paves the way for the relaxation of the rules for the issuance of non-immigrant visas to foreign traders to create more jobs in the country.
A special visa for employment generation (SVEG) would now be available for non-immigrants who are engaged in business or will be setting up business in the country.
Under the EO, the only requirement for the issuance of the SVEG is that the applicant should employ at least 10 Filipinos in a legitimate and sustainable business enterprise.
While the entry of foreigners to the country as well as the issuance of visas is covered by existing laws, the President has the power under Commonwealth Act No. 613 or the Philippine Immigration Act of 1940 to admit as non-immigrants, foreigners not otherwise provided for by the law, who are coming for a temporary period only, “when public interest so warrants.”
The American Chamber of Commerce of the Philippines Inc. (Amcham) welcomed the issuance of the E.O. insofar as it would liberalize the restrictive laws of the country.
“It will bring in new technology and new capital. The country has a high unemployment rate so I’m delighted to see this happening,” said John Forbes, chairman of Amcham’s legislative committee. –For comments, rejoinders you want to share or inquire, or learn more about Cebu Real Estate Industry, Call..
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