Philippines Extends Land Leases to 99 Years to Attract Investment

The Philippines is changing the rules about how long foreign companies can lease land.

Before, they could lease land for up to 50 years, with a chance to add 25 more years.

Now, they can lease land for 99 years!

This change is meant to encourage more foreign companies to invest in the Philippines, especially in things like factories.

The government hopes this will make the country a more attractive place for businesses.

This comes after a recent drop in the amount of money coming into the Philippines from foreign investors.

Other countries in the region are attracting more investment.