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, This news data comes from:http://hagk-rvdj-ec-floc.052298.com
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.
- Marcos approves EO for commission to probe flood project anomalies
- DPWH to revisit budget, to complete revisions within 2 weeks
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- 9 dead in Ecuador after bus plunges into ravine
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Sarah Discaya grilled by Senate over alleged DPWH links
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Comelec: Postponed village, youth elections not in 2026 budget
- Indonesia protests put spotlight on paramilitary police force
