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., This news data comes from:http://utpre.gyglfs.com
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
- Group presses DA on delayed fertilizer subsidies
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- A summit and parade in China may signal a geopolitical shift
- Ukraine drone attacks spark fires at Russia's Kursk nuclear plant, Novatek's Ust-Luga terminal.
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- Trump says he wants to meet North Korea's Kim again
- House panel defers 2026 DPWH budget until agency submit changes
- Ukraine says Russia linked to lawmaker's killing
- Trump wants to meet Norea Korea's Kim again
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
