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://xihyawbe.ycyzqzxyh.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.
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Thailand's Parliament to vote Friday for a new prime minister
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Marcos to attend UN meet in New York in Sept- Palace
- Trump wants to meet Norea Korea's Kim again
- 9 dead in Ecuador after bus plunges into ravine
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
