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, This news data comes from:http://emyx.redcanaco.com
"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.
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.
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Makati earns high rating in anti-trafficking and violence assessment
- 4 of 15 contractors on Marcos list have clean records – DPWH
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- DPWH told to build evacuation centers
- Customs preparing report on Discayas’ 28 luxury cars
- Israeli protesters demand hostage deal as cabinet meets
- House panel defers 2026 DPWH budget until agency submits changes
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
