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://gangzhifhm.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
- Roxas matriarch, 91
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Social media erupts: Politicians' children face backlash for flaunting wealth
- Isko files raps over demolition of sports complex
- Sara Duterte calls DPWH flood control Inquiry a 'Zarzuela'
- House party leaders want to return proposed 2026 budget to Executive
- Gloria Arroyo files bill to empower Office of the Vice President
- Five journalists among 20 killed in Israeli strikes on Gaza hospital
- UK, Japan, South Korea endure hottest summer on record
