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://lwe.ycyzqzxyh.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.
- President Marcos to attend 80th UN General Assembly in New York
- UK, Japan, South Korea endure hottest summer on record
- Anti-fake news bill filed anew in House
- Nartatez to reassign Torre if he won't retire, says they're 'okay'
- Prince Harry to visit UK on anniversary of queen's death
- 2 policemen placed under preventive custody for allegedly molesting a female colleague in Marikina
- Israel ups pressure on Gaza City
- Japan prince comes of age as succession crisis looms
- PNP chief Torre relieved, Nartatez to take over
- NHA gives cash aid to families affected by calamity in Manila
