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.
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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://at-vi-vi-fxxp.redcanaco.com
- Marcos lauds Alex Eala’s win in Guadalajara
- Palace: Govt monitoring Chinese sleeper agents, PLA presence in PH
- China displays its weaponry in a tightly controlled military parade
- Comelec defers BARMM district reconstitution
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Filipino fulfills dream of performing with K-pop group before home fans
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- North Korea's Kim in China ahead of massive military parade
- Comelec: Postponed village, youth elections not in 2026 budget
- Marcos urged to raise WPS resolution at UN
