Land Ownership for Foreigners

Comment from a reader on "The Suffering Of Poor Filipinos":

I don't think it is a case that we would be foolish to invest in the Philippines.
The problem as I see it as a foreigner, (horrible word) is that there is not enough incentive for us/them to invest in the Philippines.

When we marry a Filipina as many many of us are lucky enough to do we put down roots, start a family and hopefully we are accepted and become a part of the community. The problem is we are not allowed to own a house and lot in our names. Sure there could be major problems in just allowing foreigners to come into the Philippines and buy up all the land, push up the prices so no one can afford it anymore. But how about an incentive. How about when a foreigner gets married to a Filipina he is allowed, say after 2 years to be able to own land. Starting with maybe 1 hectare after 2 years going up to a maximum of 10 hectares after 5 years of marriage.

Surely then it could provide not only the incentive for foreigners to bring in more currency into the Philippines but more importantly create jobs for Filipinos.