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://yamato-syokunin.com
Escudero says new lease law to make PH more appealing to investors
- Putin and Modi in China for summit hosted by Xi
- Marcos opens WorldSkills Asean competition
- Group: Register for free PhilHealth medicines
- 25 countries suspend postal services to US over tariffs – UN
- Former PNP chief Torre III offered new government post
- Head of main US health agency abruptly dismissed
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Youth group to SC: Stop postponement of BSKE
- Discaya companies' licenses revoked for bid-rigging
- Kneecap to play Paris concert in defiance of objections
