Philippines expects more investments with eased foreign arrivals rule

The Philippine Department of Trade and Industry (DTI) is optimistic that more investments will take place in the country as the government eases its restrictions on foreign visitors. DTI Undersecretary Ruth Castelo said potential investments that have been put on hold due to the pandemic are now expected to push through with the easing of restrictions. From this week, the Philippines will scrap the facility-based quarantine for foreign nationals arriving in the Philippines. Foreign travellers are only expected to present a negative result of RT-PCR test done 48 hours before arrival. Castelo said the country’s reopening to foreign travellers will also align with the enactment of the retail trade liberalisation law as many foreign investors are expected to visit the Philippines to look into opportunities in retail trade.