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.
Escudero says new lease law to make PH more appealing to investors
"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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://gangzhifhm.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Thai court to rule on PM's fate after Hun Sen call leak
- ‘New NBI chief must be career official’
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- South Korea's Lee faces pivotal test at first summit with Trump
- Comelec: Postponed village, youth elections not in 2026 budget
- 'Isang' leaves PAR, storm signals lifted - Pagasa
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
