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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://jyxingfa.com
Escudero says new lease law to make PH more appealing to investors
- OVP ready to submit to lifestyle check if ordered, no word from Sara
- Comelec probes 15 govt contractors over 2022 election donations
- 'Pink and green' protests call for a reset in Indonesia
- Putin lands in Tianjin for summit hosted by China
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Former Bulacan district engineer admits going to casinos
- Wildfires producing 'witches' brew' of air pollution – UN
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- Taiwan: China illegally deploying oil rigs in its waters
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
