FFCCCII pushes 99-year land lease law 

The Federation of Filipino Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) is asking Congress to pass the 99-year land lease bill, viewing it as a historic opportunity to transform the nation into a leading investment powerhouse in Asia, according to a report by Manila Bulletin.

In a statement on June 4,  Victor Y. Lim, FFCCCII president, said the reform is crucial for elevating the Philippines' global competitiveness, attracting significant foreign direct investment (FDI), and ensuring long-term economic prosperity. 

According to the FFCCCII, the proposed bill is not merely a policy adjustment but a strategic leap forward, aligning the Philippines with the economic models of dynamic Asian economies. 

The organization noted that progressive nations such as Singapore (with 99-year leases), Malaysia (99 years), and Indonesia (95 years) have successfully leveraged long-term land leases to fuel substantial growth in various sectors, including finance, technology, manufacturing, renewable energy, and agro-industry. 

The FFCCCII cited China's Shenzhen, which transformed from a fishing village into a trillion-dollar tech and tourism hub, as another example of this proven model. Investors, the FFCCCII added, demand stability, which 99-year leases would provide.

The FFCCCII further explained that the passage of this reform is expected to unlock multi-billion-dollar investments across key sectors. 

These include advanced manufacturing, with potential for semiconductor plants and electric vehicle factories; tourism and infrastructure, through world-class resorts, smart cities, and logistics hubs; agro-industrial growth, leading to global-scale food processing and export zones; and renewable energy, encompassing solar, wind, and green hydrogen projects. 

The organization stated that the ripple effect of these investments would generate millions of high-quality jobs, strengthen micro, small, and medium enterprises (MSMEs), and increase tax revenues, which could then be allocated to improve infrastructure, healthcare, and education.

To ensure responsible growth and protect national interests, the FFCCCII noted that the bill includes strict provisions. 

These safeguards comprise oversight by the Department of Trade and Industry (DTI)-Board of Investments (BOI)/Investment Promotion Agencies (IPA) to ensure leases align with national development goals, anti-speculation measures requiring projects to commence within three years, compliance with agrarian reform to protect farmlands, and heavy penalties of up to P10 million for violations. 

The FFCCCII said that the Philippines can attract significant investments while maintaining sovereignty, similar to Singapore and Hong Kong. 

The time to act, the FFCCCII emphasized, is now, as global capital flows to welcoming policy environments, and the Philippines cannot afford hesitation while other nations aggressively court investors.