APECO suspends issuance of visas

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The Aurora Pacific Economic Zone and Freeport Authority (APECO) has  suspended the issuance of visas as part of its  internal audit and reviews of the agency.

In a statement,  Gil Taway IV,   APECO Administration president and chief executive officer, said the review aims to revisit existing protocols and processes within the agency.

Under the APECO charter, APECO is authorized to issue an Investor’s Visa to foreign nationals who will invest at least $150,000 in the economic zone and who meet the other entry requirements.

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APECO is drafting guidelines streamlining the process for visa application of  potential investors.

“We do not take lightly the responsibility of issuing visas and it is high time to go back and to understand why APECO was given such privilege. APECO will only be issuing visas to serious investors moving forward. Our interest is to provide this incentive only to those who truly share in our vision of growth and progress for the Filipino people, most especially of our communities in Aurora,”  Taway said

APECO is seeking investments not just for eco-tourism but for light, medium, and selected heavy industries as well.

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