The American Chamber of Commerce of the Philippines, Inc. believes that foreigners should be permitted to own land for their corporate use.
Land tenure is a critical concern to investors.
However, some large foreign firms will not invest due to the inherent financial and other risks of non-ownership. Permitting a foreigner to own land for investment purposes should not pose a threat to the Philippines, as the land can not be taken anywhere. The concerns about speculation can be addressed by legislating a minimum holding period, something that is done in other countries. Notwithstanding the aforementioned desire on the part of foreigners to own land, we applaud the proposed House Bills and support them being legislated into law.