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
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://mr.yamato-syokunin.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Lacson wants 1-year 'experiment' to break cycle of corruption in the budget process
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- House justice panel to probe US' extradition request for Quiboloy
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- Putin lands in Tianjin for summit hosted by China
- House bill seeks to regulate AI use
- Discaya companies' licenses revoked for bid-rigging
- Trump tells Europe to put economic pressure on China over Ukraine
- Japan govt seeks to triple spending on drones
