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.
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, This news data comes from:http://krurxdlg.xs888999.com
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Students, faculty file complaint against Universidad de Manila president
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- Prince Harry to visit UK on anniversary of queen's death
- Lacson: House can't return proposed 2026 budget to Palace
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Earthquake kills 250, injures 500 in Afghanistan
