Senate extends foreign land lease from 75 to 99 years

The Senate approved on Monday a bill to extend land lease limits for foreign investors from 75 years to 99 years.

Senate Bill No. 2898 was passed with 17 affirmative votes, one negative vote by Senator Risa Hontiveros, and no abstentions.

Hontiveros voted against the measure after consulting agrarian reform groups who warned of potential negative impacts on smallholder farmers and raised concerns about national security.

The bill seeks to amend the 31-year-old Investors' Lease Act and is a priority for President Ferdinand Marcos Jr. to attract foreign investment, allowing foreign investors to lease land for agriculture, agroforestry, and ecological conservation.

Senate President Francis Joseph G. Escudero said the bill aims to strengthen the legal framework for long-term leases provided under Republic Act No. 7652.