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://erlvyiwan.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
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Made in China? The remarkable tale of Venice's iconic winged lion
- NBI slaps Alice Guo, 35 Others with new graft, misconduct cases
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- New judge to handle Dengvaxia cases named; hearing set
- LPA affects Metro Manila, Mindanao, Visayas
- Lacson: Torre 'acted beyond his authority'
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Vietnam marks 80th independence anniversary with huge parade
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
