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.
Escudero says new lease law to make PH more appealing to investors
"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., This news data comes from:http://iikn-min-jios-jt.052298.com
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.
Escudero says new lease law to make PH more appealing to investors
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Israeli protesters demand hostage deal as cabinet meets
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Pagasa monitors LPA off Cavite, may still become tropical depression
- Police officers face more charges in missing cockfight enthusiasts case
- 'Ondoy'-level rains swamp Quezon City
- Xi slams 'bullying' in speech to regional leaders at summit
- Immigration deports 49 South Korean fugitives
- IBP forms committee on good governance to probe corruption
- GoTyme gives customers 20 free InstaPay transfers per month
