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 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, This news data comes from:http://pyyk-dvl-gv-qu.ycyzqzxyh.com
- 'Large shark' kills man off Sydney beach
- Kneecap to play Paris concert in defiance of objections
- Planning via ‘gender lens’ to make cities more inclusive — expert
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Trump moves to limit US stays of students, journalists
- Tourists dice with danger on Hanoi's train street
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Fears of new political crisis grip France
- Pacifist Japan struggles to boost troops as China anxiety grows
- House bill seeks to regulate AI use
