A Qatar-based real estate company is putting that question to the test. Al Nitaq is proposing to lease various islands in the archipelago, the Philippine Economic Zone Authority (PEZA) revealed this week to Gulf News.
“The Shaikh of Qatar has pushed the real estate company to take advantage of the Philippines’ strong economic growth and attractive investment scheme,” said Charito Plaza, director general at PEZA.
These islands will be divided into economic zones for agroforestry and agro-industry. Other islands will be set apart as energy centres and tourist destinations.
The National Mapping and Resource Information Authority (NAMRIA) has been tasked to identify suitable islands for leasehold by foreign investors.
President Rodrigo Duterte broached the notion of leasing Philippine islands to foreign entities earlier this year. “If we can lease our land for military bases, why not lease an island… to create our own version of Hong Kong, Taiwan or Singapore?” he said. “The jobs will come here. Going abroad must be a choice, not a necessity.”
“From the 51st year to the 99th year, they will pay rental for those buildings and infrastructure from the Philippines, thereby creating the country’s income,” he added.
There some facts also in social media that says "Philippines is the richest country in the world" because of the gold of former brilliant President Marcos. Maybe this Philippines will grow greatly as a top nation in Asia just like the days of Ferdinand Marcos the great.
There some facts also in social media that says "Philippines is the richest country in the world" because of the gold of former brilliant President Marcos. Maybe this Philippines will grow greatly as a top nation in Asia just like the days of Ferdinand Marcos the great.