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 news data comes from:http://rigdhamc.gangzhifhm.com
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.
- Passenger with fake Overseas Employment Certificate barred from leaving
- Rise in HFMD cases due to better reporting, not outbreak
- Israel tells residents to leave Gaza City ahead of offensive
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- House panel defers 2026 DPWH budget until agency submits changes
- Sara says govt corruption probe a 'zarzuela,' plans to meet Robredo im Bicol festival
- Drug war whistleblower Royina Garma returns to PH after US detention
- ₱1.7M shabu seized in Taguig buy-bust
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Leviste files charges against DPWH engineer who tried to bribe him
