FFCCCII sees bill ‘a game-changing reform’ once passed
THE Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) on Wednesday called for the immediate passage of a bill allowing foreign investors to lease land for up to 99 years, saying this will unlock multi-billion-dollar investments in advanced manufacturing, tourism, infrastructure, agro-industries and renewable energy (RE).
FFCCCII President Victor Lim said in a statement the Philippines must adopt the proven model of long-term lease used by progressive nations to fuel unprecedented growth.
“The 99-year land lease bill (is) a game-changing reform that will help elevate the Philippines’ global competitiveness, attract transformative investments and secure our economic future. This is not merely a policy adjustment; it is a strategic leap forward, aligning the Philippines with Asia’s most dynamic economies,” Lim added.
Senate Bill 2898, or the proposed Act Liberalizing the Lease of Private Lands by Foreign Investors, was approved on Dec. 16, 2024 and the House counterpart, House Bill 10755, was approved the day after, separate statements from the two chambers show.
The bills propose to extend to 99 years the lease on land by foreign entities investing in the Philippines from a maximum of 75 years: 50 years extendable by 25 years. The measures will amend the 31-year-old Investors’ Lease Act.
The bills are awaiting bicameral review and endorsement for presidential approval to make it into a law.
Lim said progressive nations have leveraged long-term land leases.
Singapore, a global financial and tech hub, and Malaysia, a semiconductor and electric vehicle (EV) manufacturing leader, both allow 99-year leases, he pointed out.
He said Indonesia, a renewable energy and agro-industrial giant, allows up to 95 years.
Lim stressed that a long-term lease will attract investors to locate their factories in advanced manufacturing, such as semiconductor plants and electric vehicles, and will open up investment in tourism and infrastructure, such as world-class resorts, smart cities and logistics hubs.
Long-term lease, Lim said, will spur agro-industrial growth through investments in global-scale food processing and export zones.
In renewable energy development, long-term lease will attract solar, wind and green hydrogen projects, he said.
“The ripple effect? Millions of high-quality jobs, stronger micro, small and medium enterprises, and higher tax revenues for infrastructure, healthcare, and education,” he added.
Lim said the proposed measures have enough safeguards to protect national interests. He cited strict provisions that will ensure “we can attract big investments while keeping sovereignty intact.”
These include a provision giving the Department of Trade and Industry and investment promotions agencies oversight function to ensure leases align with national development goals.
Lim said the measures have an “anti-speculation” provision, which says the projects must commence within three years.
Another provision protects farmlands in compliance with the Agrarian Reform Act.
Finally, Lim said, violators face heavy penalty such as fines of up to P10 million.
