PRIB: Senate approves bills of national, local scope before X'mas break

PHILIPPINES, December 16 - Press Release
December 16, 2024

Senate approves bills of national, local scope before X'mas break

With only three session days before Christmas break, the Senate on Monday, December 16, 2024, approved on third and final reading several measures which aim to improve the country's prospect as an investment destination, spur economic growth, and create jobs.

Also passed were local bills aimed at protecting the country's seascapes and landscapes nationwide.

The Senate adjourns session on December 18, 2024 for the holiday season and will resume on January 13, 2025.

Passed were Senate Bill No. (SBN) 2898, authored by Senate President Francis "Chiz" G. Escudero, or an Act Liberalizing the Lease of Private Lands by Foreign Investors. The bill seeks to extend land lease limits for foreign investors to 99 from 75 years in a bid to entice foreign investments. Senate Bill No. 2898 also allows foreign investors to sublet properties unless barred by a contract.

The bill is a priority measure of President Ferdinand "Bongbong" R. Marcos, Jr.'s government. It seeks to amend the 31-year-old Investors' Lease Act, allowing foreign investors to lease private land for an initial period of 50 years, and is renewable once for a period of not more than 25 years.

The proposal will allow 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." Escudero explained.

"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 on third and final reading was SBN 2878 which seeks to reorganize the National Economic and Development Authority (NEDA) Into the Department of Economy, Planning and Development (DEPDev).

Sen. Juan Miguel "Migz" F. Zubiri, chairperson of the Committee on Economic Affairs, led the deliberations on the proposed measure, which positions DEPDev as the government's primary policy, planning, coordinating and monitoring body for economic development.

Further, the Senate unanimously approved SBN 2799 or the Metro Bataan Development Authority Act to facilitate the holistic development of the province with the creation of the Metro Bataan Development Authority (MBDA).

On child care, the Senate passed on third reading SBN 2575 which seeks to ensure the alignment of basic education and early childhood care and development.

On social justice, the Senate approved on final reading SBN 1273 or the Muslim Filipinos, Indigenous Peoples, and Other Denominations Access to Public Cemeteries Act filed by Sen. Robinhood Padilla. Under the bill, public cemeteries will determine the size of burial grounds for Muslims, indigenous peoples, and other denominations. If the portion is insufficient, the local government may acquire land.

Several local bills approved by the Senate were measures seeking to protect seascape and landscape areas 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 also approved on third reading SBN 2872, or an Act Declaring the Sixteenth Day of May of Every Year a Special Working Holiday to be known as the "National Education Support Personnel Day," mandating the Department of Education and the Commission on Higher Education to lead in its Observance.