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 new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://ycyzqzxyh.com
- Trump moves to cut more foreign aid, risking shutdown
- Passenger with fake Overseas Employment Certificate barred from leaving
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Macron's decision to recognize Palestinian state angers Israel and the US
- Pope Leo: We must listen first before speaking
- Classes suspended in 10 Metro Manila cities due to rains
- Mexican boxer Chavez Jr. released from prison pending trial
- Sara mum, but brother thinks Torre removal due to PNP's 'internal conflicts'
- Giovanni Lopez pledges to continue and expand DOTr reforms
- ‘40% of Filipinos obese’
