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.
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://fe.ycyzqzxyh.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
Escudero says new lease law to make PH more appealing to investors
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Marcos names Dizon as DPWH secretary
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- WBO champ looms as Pacquiao’s next opponent
