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
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252., This news data comes from:http://bkusx.erlvyiwan.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- DOJ issues lookout order vs Atong Ang, others over missing cockfighters
- CFO moves office from QC to Pasay
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- Israel flattens high-rise as it tells Gaza City residents to flee
- Thai woman jailed for 43 years for lese majeste freed
- Govt monitoring Chinese ‘sleeper agents’ in PH
- Trump withdraws Kamala Harris's Secret Service protection
- Thailand ruling party moves to dissolve parliament
- Former DPWH chief denies links to corruption
- Israel ups pressure on Gaza City
