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, This news data comes from:http://www.aichuwei.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.
- PNP chief Torre relieved, Nartatez to take over
- Trump says he'll keep extending TikTok shutdown deadline
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Construction managers, developers back Housing chief's anti-corruption advocacy
- 1 of 2 suspects in Pasay robbery, rape arrested
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- US halts 80% complete, huge offshore wind farm
- Indonesia turns down ear-splitting 'haram' street parties
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
