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., This news data comes from:http://aichuwei.com
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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Gasoline, diesel prices to increase by P1 next week
- House panel defers 2026 DPWH budget until agency submit changes
- IBP to form good governance panel
- Aid flotilla with Greta Thunberg set to sail for Gaza
- Pope Leo: We must listen first before speaking
- Prince Harry to visit UK on anniversary of queen's death
- Can a giant seawall save Indonesia's disappearing coast?
- House bill seeks to regulate AI use
- Marcos signs law giving 99-year land lease to foreign investors
- PH economic losses hit 100B from corruption in flood control projects
