The government has strengthened its monitoring of the economic activities of foreign nationals, including retirees, as the country continues to allow the entry of foreign labor amid the pandemic.

This, after the Department of Labor and Employment (DOLE) and the Philippine Retirement Authority (PRetA) signed a memorandum of agreement last week that allows the free exchange of foreign national data between the two agencies.

"This data-sharing agreement will facilitate the exchange of information between DOLE and PRetA for better coordination, rendering of services, and monitoring of foreign nationals within our purview," Labor Secretary Silvestre Bello III said during the ceremony at the DOLE Central Office.

Under the agreement, PRetA can now verify the employment information of their Special Resident Retiree’s Visa (SRRV) holders or those foreign nationals who chose to retire in the Philippines through DOLE’s Alien Employment Permit (AEP) database.

The labor department issues AEP to authorize a foreign national to work in the Philippines.

"The pressing challenges of the pandemic impel us to forge solidarity and cooperation in promoting and monitoring the employment activities of foreign nationals in our country," PRetA General Manager and Chief Executive Officer Bienvenido K. Chy said.

According to the agreement, the exchange of employment information will be done quarterly via electronic mail or other forms of data transmission agreed upon by both parties.

Based on DOLE’s latest data, there are currently 366 SSRV holders, who also have AEPs this year.

Of which, 188 are new AEPs, while the remaining 178 are renewals.