Talisay City — The Philippines is forecasted to be a fast emerging haven for foreign retirees in Asia, which according to the Philippine Retirement Authority (PRA), will be achieved in the next five years, with Negros Occidental as one potential site.

PRA chair Edgar Aglipay, who met with chief executives in the province Friday, said that it is the National Government’s thrust to invest in the retirement industry for “it will bring jobs and more profits.”
In fact, it will also boost the tourism industry, he said.

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The Betty Bantug Benitez Foundation led by businessman Albee Benitez sponsored the PRA’s presentation with the local provincial officials who said that he will adopt the idea and will pilot it in the third district as part of his platform of government.

Benitez will run for congressman in the third district under the United Negros Alliance party (UNA).

Among the public officials present were Governor Isidro Zayco, Sagay City Mayor Alfredo Maranon Jr., board members Patrick Lacson and Manuel Frederick Ko, Talisay City Mayor Eric Saratan, Silay City Mayor Jose Montelibano and vice mayor Mark Golez, former sixth district representative Genaro Alvarez, Murcia vice mayor Joselino Santiago Sr., Negros Occidental police chief Manuel Felix, former Bacolod representaitve John Orola Jr., and E.B. Magalona vice mayor Reynaldo Depasucat Jr.

A flagship program of the Arroyo administration, Aglipay said “is actually, the industry is packaging the country’s tourism tied up with the retirement industry because this is what the retirees’ group wants; some sort of an entertainment, medical facility, good transportation and communication access and the kind of peace and order situation which is stable and safe.”

He cited Bacolod as a potential location, claiming the city has a sound economy, green environment and a peaceful locale.

The PRA’s Local Integrated Retirement Areas (LIRAs), Aglipay said, include Subic, Clark, Tagaytay, Baguio, Davao, Cebu and Manila.

In his presentation, Aglipay reported that by 2015, a total of 869.1 million retirees will go places and spend a living for a lifetime. He enumerated them as: Europe – 80.6 million, US – 64.4 million, Taiwan – 4.3 million, China – 258 million, Japan – 40.3 million and Korea – 8.9 million.

“It’s about 1/5th of the world’s population,” Aglipay said, citing that “this would mean business opportunity.”

Of said population, Aglipay said the country under RIP (Retirement Industry Program) is targeting to reach 5% of the European retirees, China – 35%, Korea – 25%, Japan and US – 10%.

“Our mandate is to target foreign retirees by bringing them here in the country that will provide investments and jobs for the Filipino people”, Aglipay said.

He cited that Filipinos who work abroad and are married to foreigners can be of big help by bringing foreigner-friends and their families into the country.

The PRA is now working closely with the property development sector to open possible business opportunities like investing in the retirement industry, Aglipay said.

He added the government is “aggressively promoting the country as a haven of foreign retirees.”

The PRA is a government agency whose function is on accrediting investors of the retirement industry with strict standards of accreditation requirements “specifically on project and facility accreditation”, Aglipay said.

Aglipay said PRA is targeting Iligan, Cagayan De Oro and General Santos, making them as havens for the “middle eastern retirees”.

At present, the country has 45 accredited facilities that cater to foreign retirees, which include recreation centers, residential villas, condo units, resorts, wellness and care homes, among others. (George M. de la Cruz)