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., This news data comes from:http://csm-ccny-qaji-lhgv.ycyzqzxyh.com
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
- Boy killed, mother injured in Pasig fire
- Marcos soon to create commission to probe flood control projects
- US church shooter 'obsessed with idea of killing children'
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Comelec: Postponed village, youth elections not in 2026 budget
- Trump: Many Americans ‘like a dictator’
- Chinese tourist city Sanya shuts down as typhoon intensifies
- DSWD program reduced hunger
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- Open mic caught Xi, Putin discussing immortality
