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://gyglfs.com
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Task force cites new threats to media workers
- 9 dead in Ecuador after bus plunges into ravine
- President Marcos launches HD Hyundai Shipyard in Subic
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Nepal to block unregistered social media platforms – govt
- Supreme Court urged to act on fake complaints
- Marcos inspects rock shed project in Benguet
- Japan prince comes of age as succession crisis looms
- White House fires US health agency head after she refused to quit
- Lacson to govt: Protect education budget
