PEZA, BI partner for enhanced investor visa services

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) and the Bureau of Immigration (BI) have signed a data sharing agreement to enhance investor visa services in line with efforts to facilitate trade and investments.

In a statement, the investment promotion agency said PEZA director general Tereso Panga and BI commissioner Joel Anthony Viado signed the data sharing agreement on Jan. 21.

The data sharing agreement builds on the memorandum of agreement between the PEZA and BI established in 2021 to safeguard national security, while enhancing the processing and issuance of PEZA Visas (PVs) for incoming investors and foreign nationals employed within PEZA-registered ecozones.

With the signing of the data sharing agreement, the PEZA and BI commit to enhance security and ensure compliance with the Data Privacy Act of 2012, its implementing rules and regulations and other relevant issuances from the National Privacy Commission.

The PEZA said the agreement is important for the seamless issuance of PVs for foreign nationals working within ecozones.

In December last year, the PEZA also entered into a similar agreement with the Department of Labor and Employment to make it easier for foreign investors to navigate the regulatory landscape and allow them to start projects without delays.

“This collaboration is essential in facilitating trade and investments,” Panga said, noting those issued with PVs are top executives, production and research and development engineers, machine technicians and knowledge workers who form part of the ecozone supply and value chains.

He said the PEZA would continue efforts to further attract investments into the country.

“PEZA remains dedicated to maintaining the highest standards and tackling the challenges that hinder the flow of investments into the Philippines. Together, we will continue to drive improvements in the ease of doing business, ensuring that our immigration processes are efficient, welcoming, precise, clear, fast and investor friendly, as implemented by PEZA managed ecozones across the entire nation,” he said.

Viado said the agreement is expected to facilitate effective collaboration, while enhancing data integrity, as well as the issuance of PVs to foreign nationals and their dependents.

As of December 2024, there were 16,299 PVs issued to principals of PEZA registered business enterprises, along with 5,286 dependents.

Japan accounted for the biggest share in PVs at 35 percent, followed by India (18.7 percent), China (11.5 percent), South Korea (10.6 percent) and Taiwan (2.9 percent).