The Philippines will allow the entry of foreign investors from November 1

MANILA – Foreigners with an investor visa will be able to enter the Philippines from November 1, Malacañang said on Friday, as authorities seek to boost the economy hit by the pandemic.

The interagency working group that leads the response to the pandemic, in its meeting on Thursday, allowed the entry from next month of foreign nationals with an investor visa from the Immigration Office, said presidential spokesman Harry Roque.

Foreigners on 4782 visas from the Department of Justice and visas from the Aurora Pacific Economic Zone and the Freeport Authority and the Subic Bay Metropolitan Authority will also be allowed, he said at a Laging Handa public briefing.

“They must have valid and existing visas upon entry and must also have a pre-booked accredited quarantine facility,” Roque said in a statement.

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

Foreign tourists are still banned, Roque said.

The Philippines imposed travel restrictions in February to stop the spread of the new coronavirus. The easing of travel restrictions is among a series of relaxed rules announced Friday to help the country’s economy recover from the recession.

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

The health department confirmed 1,664 new coronavirus infections on Thursday, the third consecutive 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 rose to 6,783.

– With a Reuters report