The Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) strongly urged the leadership in the Lower House and the Senate to pass a bill that will seek to extend foreign investors’ land leases to 99 years.
In a statement, FFCCCII President Victor Lim said granting a long term lease to investors is not a mere policy change, but a major strategic leap to position the Philippines as an exemplar of stability and innovation in ASEAN and Asia, an ideal investment haven.
At present, the Philippines allows a “long-term lease” for private land, particularly for foreign investors, up to 75 years. This is possible under the Foreign Investor Long-Term Lease Act (Republic Act No. 7652), which allows for a 50-year lease renewable once for another 25 years,
“We urge Congress to act swiftly, our economic future hinges on this decision. It will be good for foreign investments,” Lim said.
ALIGNS WITH ASEAN COUNTRIES
Lim explained that a 99-year lease is aligned with Singapore, which has been attracting multinationals and fueling its rise as an international financial hub.
Other ASEAN countries also extend longer lease term to investors. Malaysia and Indonesia provide 99- and 95-year terms, respectively, drawing major advanced manufacturing and green energy projects.
Hong Kong also thrives on renewable 50-year leases, while China’s Shenzhen City and other urban centers used similar policies to become tech and industrial titans.
“Adopting 99-year leases aligns us the Philippines with progressive regional leaders and signals long-term security and investor confidence—critical for attracting billion-dollar, multi-generational business ventures,” said FFCCCII.
Filipino-Chinese businessmen noted that foreign direct investment drives job creation, technology transfer, and global integration. A 99-year lease removes barriers to financing and large-scale projects, attracting industrial megaprojects to locate in the country.
Existing investors will also be encouraged to expand operations, while new entrants—lured by terms rivaling Singapore and Shenzhen—will bring cutting-edge innovation and global supply chains.
The ripple effect transcends beyond the boardrooms of conglomerates but will enable the MSMEs to flourish through improved local supply chains, jobs creation, and tax revenue generation.
Crossroads
“Global capital waits for no one. As ASEAN rivals like Malaysia, Vietnam and Indonesia slash barriers, hesitation or any delay risks relegating the Philippines to irrelevance. President Marcos Jr.’s open-door policy has reignited investor trust—Congress must now cement this momentum,” Lim said.
By embracing the reform of 99-year leases, Lim said the country can harness foreign capital for national progress while safeguarding our patrimony. “Let us act decisively—for innovation, equity, and enduring prosperity,” Lim concluded.
