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.
Escudero says new lease law to make PH more appealing to investors
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://aichuwei.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.
- MMDA readies for FIVB men’s volleyball
- India will not 'bow down,' trade minister says after US tariffs
- Wildfires producing 'witches' brew' of air pollution – UN
- Washington makes military aid overtures to Sahel juntas
- Manila marks National Heroes Day with job fair
- 1 in 4 people lack access to safe drinking water — UN
- PNP chief supports lowering age of discernment
- Cambodia MPs pass law allowing stripping of citizenship
- Lacson: House can't return proposed 2026 budget to Palace
- Mandela grandson says he will join Gaza aid boat
