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
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://majgnbgc.erlvyiwan.com
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.
- Youth group asks SC to stop postponement of SK polls, cites age-limit concerns
- Hopes dim for Putin-Zelenskyy peace summit
- Government work, classes on Tuesday suspended due to bad weather
- ‘Lannie’ to bring rain over NLuzon, southwest monsoon to affect Metro Manila, Calabarzon, Mimaropa —Pagasa
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- Pump prices go up
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Comelec defers BARMM district reconstitution
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Some areas in Metro Manila, Bulacan, Quezon to have power interruptions due to maintenance work
