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., This news data comes from:http://aichuwei.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.
- Thai court to rule on PM's fate after Hun Sen call leak
- Japan accelerates missile deployment amid rising regional tensions
- Leviste files charges against DPWH engineer who tried to bribe him
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- PH eyes global partners in biggest railway project
- Marcos orders lifestyle checks on all government officials amid flood control probe
- South Korea to ban mobile phones in school classrooms
- NATO members to reach 2% defense spending goal this year
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
