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://byndep.yamato-syokunin.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Former DPWH chief denies links to corruption
- 'Lannie' exits PH — Pagasa
- Cusi charged over Malampaya deal
- 102-year-old becomes oldest person to summit Mount Fuji
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- MMDA readies for FIVB men’s volleyball
- Gasoline, diesel prices to increase again next week
- LPA may still develop into short-lived tropical cyclone
- Marcos declares holidays for 2026
- Customs finds only 2 luxury cars at contractor's compound in Pasig
