MANILA, Philippines — Senate President Francis Escudero is confident that a new law which allows foreign investors to lease private land for up to 99 years woll make the country look more like an ideal investment destination.
"Foreign investors have long complained about the prohibitive provisions of our laws regarding the ownership of land by non-Filipinos. Businesses will never place their funds in destinations where there is uncertainty in laws and regulations. This law will go a long way in addressing these concerns," Escudero, an author of the law, said in a statement on Saturday.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://nl-jb-vvi-kabv.erlvyiwan.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
Escudero says new lease law to make PH more appealing to investors
- Aid flotilla with Greta Thunberg set to sail for Gaza
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Roxas matriarch, 91
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Taiwan: China illegally deploying oil rigs in its waters
- HFMD cases on the rise
- DoTr seeks higher budget for 2026, requests P531B amid cuts
- PNP enlists Interpol help in hunt for Japanese mastermind behind Manila double murder
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- PH has chance of getting UNSC seat - Manalo
