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://fv-qbsy-lb-wly.jyxingfa.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
- Fire breaks out in Manila residential area
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- US agents arrest 475 in Hyundai-LG plant raid
- Napoles guilty in another 'pork barrel' case, sentenced to 55 years in jail
- DPWH told to build evacuation centers
- Peace efforts in limbo as Kyiv mourns 23 dead
- Putin lands in Tianjin for summit hosted by China
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Group presses DA on delayed fertilizer subsidies
- Mandela grandson says he will join Gaza aid boat
