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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://roy-kgoq-xfex-ver.705-888.com
- China's Xi holds talks with North Korea's Kim in Beijing
- House party leaders want to return proposed 2026 budget to Executive
- DSWD's guarantee letters now accepted in more establishments
- Putin threatens to target Western troops in Ukraine
- New judge to handle Dengvaxia cases named; hearing set
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Pag-IBIG: More than 25k register for socialized housing units under Expanded 4PH
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- SSS pension reform program starts in September
- Marcos opens Hyundai's shipyard in PH
