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Section: Business News - The Bureau of Immigration (BI) has revoked the visas and blacklisted more than 310 foreign investors suspected of having withdrawn their investments, it was reported Sunday.
The BI said each of the foreign traders earlier were issued a special investor's resident visa (SIRV) which entitles them to stay indefinitely in the Philippines provided they maintain their investments here.
Immigration Commissioner Marcelino Libanan issued last Oct. 17 the order placing the 310 investors, all Chinese nationals, as well as their 404 dependents in the bureau's blacklist.
Libanan said he issued the blacklist order at the request of the …