Fil-Chinese biz chamber backs 99-year land leases – BusinessWorld Online
THE Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) called on the incoming Congress to pass a measure that will extend foreign investors’ land leases to 99 years.
“This is not a mere policy change — it is a major strategic leap to position the Philippines as an exemplar of stability and innovation in ASEAN and Asia, an ideal investment haven,” FFCCCII President Victor Lim said.
“We urge Congress to act swiftly; our economic future hinges on this decision. It will be good for foreign investment,” he added.
According to Mr. Lim, the passage of the bill will align the country’s policies with the 95- to 99-year leases of Singapore, Malaysia, and Indonesia, and exceed Hong Kong’s and Shenzhen’s 50-year leases.
“Adopting 99-year leases aligns the Philippines with progressive regional leaders and signals long-term security and investor confidence — critical for attracting billion-dollar, multi-generational business ventures,” he said.
He said allowing a 99-year lease will remove barriers to financing large-scale projects, which will facilitate investments in semiconductor plants, electric vehicle factories, agro-export zones, renewable energy farms, smart cities, and global-scale food processing, among others.
“Existing investors will expand operations, while new entrants — attracted by terms rivaling Singapore and Shenzhen — will bring cutting-edge innovation and global supply chains,” he said. — Justine Irish D. Tabile
