The 100,000 new jobs that the Bureau of Immigration (BI) hopes to generate from its issuance of an indefinite visa to foreigners employing 10 or more
Filipinos is “realistic†and can easily be achieved, according to leaders of foreign business chambers based in the country.
“The target of 100,000 new jobs is realistic if you have very easy access by foreigners to the market. The immigration, justice and trade departments of the government are now going to the right direction,†said Petteri J. Makitalo of the Finland Chamber of Commerce in the Philippines
Makitalo said the country need as many laws as possible that would facilitate the entry of business and tourism into the country.
“The new visa opens tremendous opportunities in tourism and manufacturing here. Businessmen want to have very easy access into the country and make doing business here very easy,†he said.
Makitalo said that since there might be an economic slowdown as a result of the crisis in the world’s financial markets, the government has shattered considerable barriers in the bureaucracy.
He also pointed out that there are great economic opportunities in the Philippines similar to other foreign chambers in Israel, Finland, India that are staunchly committed to the vision of bringing in foreign capital and become part of the process of growth in the country.
Emanuel Fryzer, president of Philippine-Israel Business Association, for his part said the special visa for employment generation (SVEG) “could not have come sooner especially next year which is expected to be the worst year in the economic situation of the world so I think the implementation of this new visa is right on time.â€
Leaders of other foreign chambers pointed out that the new job-generating visa will bring in not only fresh capital to the country but will prove to be a strong vehicle for technology transfer.
“This is a winner that will place the Philippines in many investors map,†an official of American Chamber said, adding that liberalizing laws for investors in the Philippines is very positive for the country.
The foreign business leaders were among the foreign businessmen who witnessed President Gloria Macapagal Arroyo signed last Monday Executive Order 758 prescribing the guidelines for the issuance of SVEG.
The new job-generation visa grants indefinite stay to foreign investors who will employ at least 10 Filipinos in legitimate, viable and sustainable businesses and industries in the country. - PNA
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