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.
Escudero says new lease law to make PH more appealing to investors
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://tw-lj-qv-bsqc.gangzhifhm.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Seoul says fired warning shots after North Korean troops crossed border
- SC clarifies rules on land ownership
- Protesters storm Discaya compound, Sotto calls for calm
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Marcos to create independent commission to investigate flood control anomalies
- Pacifist Japan struggles to boost troops as China anxiety grows
- Bolsonaro verdict looms as Brazil coup trial closes
- Xi slams 'bullying' in speech to regional leaders at summit
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Gomez-Estoesta named court administrator by Supreme Court
