CLARK FREEPORT -- The Clark Development Corporation, Subic Bay Freeport and Bureau of Immigration and Deportation have forged an agreement for the issuance of visa-free entry privileges to foreign investors visiting the two Freeports.
Under the agreement signed by SBMA Administrator Armand Arreza and CDC president Benigno Ricafort with BI Commissioner Marcelino Libanan, officers and personnel of foreign locators in the two Freeports may now enter and stay in the country without a visa for a period of 14 days under certain conditions.
Commissioner Libanan, however, clarified that the privilege will only be extended to those arriving through the Diosdado Macapagal International Airport (DMIA) or the Subic Bay International Airport (SBIA).
Visitors or businessmen arriving in other airports but wish to locate in the two Freeports are not included in the agreement. 
Among others, the agreement is aimed at attracting foreign investors to do business in Subic and Clark as well as send a signal to other foreign investors that the government is serious in courting more foreign investments that will create jobs and improve the economy as well.
“More than the convenience that the agreement will provide foreign locators in Subic and Clark, the visa-free entry will encourage more investments from Taiwan -- which is now one of the biggest in Subic -- and invite other foreign investments to do business in the Freeport zones,” Arreza said.
For his part, Libanan said the visa-free entry privilege for foreign locators in Subic and Clark is part of the BI’s ongoing thrust to attract more tourists and investors to the Philippines, aside from merely guarding against the entry of terrorists, transnational criminals and other undesirable aliens.
This is augmented by the reforms instituted by Libanan such as cutting red tape and providing visa incentives to foreign investors to encourage them to visit and invest to help create more jobs.
Under the agreement, the foreign locator shall vouch for their officers and personnel coming here and also notify the SBMA chair or CDC president who shall approve the grant of the visa-free entry privilege. Upon his arrival, the investor is then allowed to move freely within the Freeport zones for the duration of his/her stay here.
The officers and personnel of foreign locators may apply with the BI for a landed visa so they can avail of the privilege.