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.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://gyglfs.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- PH Army showcases disaster response capabilities before Thai defense officials
- Transport chief pushes shame campaign vs errant motorists
- 1.2K pass Electrical Engineers exam
- Sarah Discaya grilled by Senate over alleged DPWH links
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Philippines calls for Gaza ceasefire amid humanitarian crisis
- Indonesia turns down ear-splitting 'haram' street parties
- Youth group to SC: Stop postponement of BSKE
- Suspect in 2012 killing of Dutch aid worker freed
- Marcos opens Hyundai's shipyard in PH
