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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://www.gyglfs.com
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.
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Customs recovers 10 more Discaya luxury cars
- HEADLINES: DPWH fires Bulacan engineers, blacklists contractors over anomalous projects | Sept. 5, 2025
- Taiwan, China locked in historical word war
- DOJ indicts Abra Mining for fraudulent trading
- China's Communist rulers push party role before World War II anniversary
