With only three session days before the Christmas break, the Senate on Monday, Dec. 15, approved on third and final reading several measures aimed at boosting the country’s investment climate, economic growth and job creation.
Also passed were local bills on protecting the country’s seascapes and landscapes.
The Senate will adjourn on December 18, for the holiday season and is set to resume on January 13, 2025.
Among the measures passed was Senate Bill No. (SBN) 2898, authored by Senate President Francis Escudero, which seeks to liberalize the lease of private lands by foreign investors.
The bill extends the land lease period for foreign investors from 75 years to 99 years and allows subleasing unless restricted by contract.
It also seeks to amend the 31-year-old Investors’ Lease Act, allowing foreign investors to lease land for agriculture, agroforestry, and ecological conservation purposes.
“Attracting foreign investors has been a long-standing priority of the government, spanning several administrations. Foreign direct investment, as a source of financing, is critical in realizing socio-economic objectives such as increasing employment levels, creating decent work, infusing technology into domestic businesses, and improving the integration of local enterprises with the global market.” said Escudero.
“This bill seeks to address this economic roadblock by strengthening the legal framework for long-term leases provided under Republic Act No. 7652. It expands the allowable lease period to 99 years, subject to certain conditions and requirements,” he added.
Also passed was SBN 2878, which seeks to reorganize the National Economic and Development Authority Into the Department of Economy, Planning and Development (DEPDev). This bill positions DEPDev as the government’s primary body for economic planning, coordination, and monitoring.
The Senate also approved SBN 2799, which creates the Metro Bataan Development Authority to facilitate the province’s holistic development.
On child care, the Senate passed SBN 2575, which seeks to align basic education with early childhood care and development.
It also approved SBN 1273 or the Muslim Filipinos, Indigenous Peoples, and Other Denominations Access to Public Cemeteries Act, which ensures that public cemeteries provide sufficient burial grounds for Muslims, indigenous peoples, and other denominations. Local governments will be authorized to acquire additional land if necessary.
Several local bills were also approved, including measures to protect seascapes and landscapes in Leyte (SBN 2617), Ilocos Norte (SBN 2252), Quezon Province (SBN 1725, 1691), Nueva Vizcaya (SBN 355), Lanao del Norte (SBN 2619), Zamboanga del Norte (SBN 2618), Albay (SBN 2616), Tarlac (SBN 2615), and Aurora Province (SBN 2614).
The Senate likewise approved SBN 2872, which declares the 16th of May every year a special working holiday known as National Education Support Personnel Day, with the Department of Education and the Commission on Higher Education responsible for its observance.IMT
