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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://jyxingfa.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- NKorea could produce ten to twenty nukes per year — SKorea leader
- Transport chief pushes shame campaign vs errant motorists
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Dizon to abolish DPWH internal special investigation team created to look into the flood control anomalies
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- Marcos signs laws creating more court branches
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Meeting South Korea, Trump could eye new chance with North
