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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://bx-sbd-mcc-bkj.aichuwei.com
- China to bolster non-Western alliances at summit, parade
- New judge to handle Dengvaxia cases named; hearing set
- Zelenskyy meets European leaders on Ukraine security guarantees
- Construction managers, developers back Housing chief's anti-corruption advocacy
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- PH Army showcases disaster response capabilities before Thai defense officials
- Trump hails Department of War rebrand as 'message of victory'
