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.
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., This news data comes from:http://ktqf-ud-ma-yi.xs888999.com
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Vietnam evacuates thousands ahead of Typhoon Kajiki
- Heavy rains flood parts of Metro Manila anew
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- GoTyme gives customers 20 free InstaPay transfers per month
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Classes suspended in 10 Metro Manila cities due to rains
- Trump says he'll keep extending TikTok shutdown deadline
