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://jtxx-icr-fn-gue.jyxingfa.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- PH Army showcases disaster response capabilities before Thai defense officials
- ChatGPT to get parental controls after teen's death
- Heavy rains flood parts of Metro Manila anew
- Marcos mum on Magalong joining independent commission for DPWH probe
- India will not 'bow down,' trade minister says after US tariffs
- Recto: No exemption for US tech firms from digital tax
- PH to see ‘blood moon’ Sept. 7-8
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Taylor Swift, Travis Kelce engaged
- Israeli protesters demand hostage deal as cabinet meets
