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, This news data comes from:http://gyglfs.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors
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.
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Japan accelerates missile deployment amid rising regional tensions
- Vico Sotto's viral post sparks ethics debate, elicits response from journalists
- Marcos, first lady visit Cambodia to boost ties
- Maduro calls for dialogue hours after Trump’s threat
- Supreme Court: It’s work as usual in judiciary
- 'No way' US troops can invade Venezuela, says Maduro
- Dizon to order DPWH officials to submit courtesy resignation
- India to probe giant zoo run by son of Asia's richest person
- Comelec to resume BARMM polls ballot printing Thursday
