TAIWAN plans to invest around P5 billion more in the Philippines this year, a Taiwanese official said on Wednesday.
“This year, our investments will increase, I believe, by more or less P5 billion,” Taiwan Representative Gary Song-Huann Lin said at the Rotary Club of Makati Fellowship.
Last year, Taiwanese investments in the Philippines jumped to P5.46 billion (about $121 million), an 83.3-percent increase from the previous year, making Taiwan the country’s third fastest growing investment source.
Song said that in terms of bilateral economic ties, the two countries are important trading partners to each other. In 2015, Taiwan was the Philippines’ fifth largest trading partner, ninth biggest export market, and fourth largest import source of the Philippines.
“For Taiwan, the Philippines is the second largest export partner of Taiwan among Asean countries amounting to $7.45 billion, and the 11th largest trading partner of Taiwan in the world, with bilateral trade amounting to $9.27 billion in 2015,” Song added.
The official said that in terms of tourism, visitor arrivals from Taiwan to the Philippines reached 180,091 in 2015, an increase of 34.8 percent from the previous year, making Taiwan the 6th top tourism source for the Philippines.
From January to June this year, Taiwan has already brought 111,184 visitors to the Philippines, up 26.15 percent from last year. Among the top 12 sources of visitors for the Philippines, Taiwan posted the second highest growth of tourist arrivals.
Meanwhile, Song said that Philippine passport holders who intend to visit Taiwan for purposes of tourism, business, visiting relatives, attending international conference and participating in sport events can apply for a e-visa, with the required non-refundable fee by credit card payment.
When an e-visa application has been approved, applicants are required to present the print-out of the e-visa at the immigration checkpoint for verification upon arrival in Taiwan. An e-visa will be valid for three months upon approval with duration of stay up to 30 days.
Since September 1, Taiwan has eased its visa-free requirements for Filipinos who possess one of the following documents issued by Australia, Canada, Japan, Korea, New Zealand, any of the Schengen countries, the United Kingdom, and the United States: (1) a valid resident or permanent resident card; (2) a valid entry visa (electronic visa included); or (3) a resident card or visa that has expired less than 10 years prior to the date of arrival in Taiwan.