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://dp.jyxingfa.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.
- Bolsonaro verdict looms as Brazil coup trial closes
- Navotas holds anti-plastic drive
- Palestinian Embassy echoes PH appeal for ceasefire in Gaza
- 11 foreigners killed in Portugal funicular crash
- Over 800 killed as quake rocks Afghanistan
- National Guard troops begin carrying weapons in US capital
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Supreme Court: It’s work as usual in judiciary
- Heavy rains flood parts of Metro Manila anew
