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 news data comes from:http://www.771bg.com
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
- IBP to form good governance panel
- Follow the trucks: Why investors are looking south of Metro Manila
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- House panel defers 2026 DPWH budget until agency submit changes
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- New Quezon City judge to oversee Dengvaxia vaccine cases, sets hearing
- Hontiveros pushes P15,000 salary hike for teachers
