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.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252., This news data comes from:http://xgbl-wh-asxe-xufm.705-888.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Plea written in blood saves Chinese woman trapped in locked room
- SSS pension reform program starts in September
- PH economic losses hit 100B from corruption in flood control projects
- Nartatez rules out 'quota' arrests
- US agents arrest 475 in Hyundai-LG plant raid
- Philippines presses call for ceasefire in Gaza
- China displays its weaponry in a tightly controlled military parade
- Comelec: Postponed village, youth elections not in 2026 budget
- France seized by fears of new political crisis
- Putin vows not to back down in Ukraine
