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, This news data comes from:http://www.052298.com
The president on Saturday signed Republic Act 12252.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Marcos approves EO for commission to probe flood project anomalies
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Marcos expresses support for ‘beleaguered’ Cabinet members
- House panel defers 2026 DPWH budget until agency submits changes
- Lacson lauds Leviste for arrest of DPWH engineer who offered P360M bribe
- Gasoline, diesel prices to increase by P1 next week
- Kris Aquino is alive, says friend amid reports of death
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
