BBM EXTENDS LEASE FOR FOREIGN INVESTORS

In a bold move to shake things up for foreign investment in the Philippines, President Ferdinand "Bongbong" Marcos Jr. recently signed Republic Act 12252 into law. This significant change extends the lease period for private lands from a standard 50 years to a whopping 99 years! That’s right—foreign investors can now set up shop in the country with much longer leases, making it easier for them to plan and grow their businesses.

Before this, the Investors’ Lease Act only allowed for a 50-year lease that could be renewed for an additional 25 years. With the new law, the Philippine government is sending a clear signal: they’re serious about creating a welcoming and stable business environment. By allowing longer leases, the hope is to boost investment confidence, attracting more international players to the country's economic scene.

This change could be a game-changer for sectors like real estate, tourism, and agriculture, where foreign investors initially hesitated due to uncertainty about long-term land use. As the Philippines aims to position itself as an attractive destination for foreign capital, RA 12252 is a refreshing step towards modernizing the country's investment landscape. Let’s see how this unfolds!