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.
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://www.771bg.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- Eala ousts Day, enters Guadalajara Open final
- Chinese tourist city Sanya shuts down as typhoon intensifies
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- Sara favors punishing officials, lifestyle checks
- Passenger with fake Overseas Employment Certificate barred from leaving
- New DPWH chief Dizon: "A department can't investigate itself"
- Leviste files charges against DPWH engineer who tried to bribe him
- Xi slams 'bullying' in speech to regional leaders at summit
- LTO summons driver who berated MMDA enforcer
