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, This news data comes from:http://www.aichuwei.com
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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Gasoline, diesel prices to increase again next week
- Pump prices increase for 2nd straight week
- Cebu Pacific to launch direct flights between Cebu and Palawan
- Cambodia MPs pass law allowing stripping of citizenship
- ChatGPT to get parental controls after teen's death
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Duterte’s defense team outlines ICC strategy
- Marcos opens Hyundai's shipyard in PH
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
