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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://utio.705-888.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.
- Duterte’s defense team outlines ICC strategy
- Trump says he wants to meet North Korea's Kim again
- Taiwan: China illegally deploying oil rigs in its waters
- Marcos orders 'sweeping review' of DPWH budget under 2026 NEP
- UN: Rising heat 'severely' impacting workers' health
- DILG suspends classes, gov’t work in 17 areas
- Israeli protesters call for hostage deal ahead of cabinet meeting
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- US approves .5M in assistance to Nigeria to help address hunger
- 9 dead in Ecuador after bus plunges into ravine
