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., This news data comes from:http://052298.com
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.
- Transport chief pushes shame campaign vs errant motorists
- Made in China? The remarkable tale of Venice's iconic winged lion
- Search for survivors after Afghan earthquake kills 800
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- Marikina City chief of police relieved
- Palace suspends govt work, classes in several areas due to bad weather
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
