The Philippine Economic Zone Authority (PEZA) reports a surge in investor visas issued in 2024, surpassing the previous year's figures. Japanese investors lead the way, followed by Indians and Chinese nationals. PEZA Director General Tereso Panga credits this growth to the agency's commitment to creating a business-friendly environment and highlights a recent data-sharing agreement with the Bureau of Immigration to enhance investor visa services.
The Philippine Economic Zone Authority ( PEZA ) announced on Thursday that it had issued 7,000 investor visas in 2024, a significant increase from the 5,500 issued in 2023. Japanese investors led the way, securing a 35.01% share of the visas, followed by Indians at 18.73% and Chinese investors at 11.46%. South Korea and Taiwan rounded out the top five recipients, holding 10.64% and 2.92% respectively.
PEZA Director General Tereso Panga attributed this growth to the agency's unwavering commitment to fostering a business-friendly environment in the Philippines. He emphasized PEZA's continued efforts to attract more investments and underscored the importance of maintaining a welcoming and efficient immigration system for foreign investors. 'PEZA remains dedicated to maintaining the highest standards and tackling challenges that hinder investment flows. We are determined to drive improvements in the ease of doing business and ensure our immigration processes are efficient, precise, and investor-friendly,' Panga stated.In a recent development aimed at streamlining investor visa services, Panga and Bureau of Immigration (BI) Commissioner Joel Anthony Viado signed a data-sharing agreement on January 21st. This partnership, Panga explained, adheres to the Data Privacy Act of 2012 and other relevant regulations set by the National Privacy Commission (NPC). The BI has been instrumental in safeguarding national security while facilitating the government's objectives by efficiently processing and issuing PEZA visas for incoming investors and foreign nationals employed within PEZA-registered ecozones, Panga added. Since the investor visa program's inception in 2021, a total of 16,299 investor visas have been issued, along with 5,286 dependent visas, culminating in a grand total of 21,585 visas by December 2024
INVESTMENT PHILIPPINE ECONOMIC ZONE AUTHORITY PEZA INVESTOR VISA IMMIGRATION BUSINESS ENVIRONMENT JAPANESE INVESTORS DATA SHARING
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