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.
Escudero says new lease law to make PH more appealing to investors
"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., This news data comes from:http://kb-sqv-rjom-mdsw.771bg.com
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.
Escudero says new lease law to make PH more appealing to investors
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Appointments panel holds first session
- Australia government condemns anti-immigration rally in Sydney
- PNP chief leads fun run
- White House fires US health agency head after she refused to quit
- Mexican boxer Chavez Jr. released from prison pending trial
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Macron's decision to recognize Palestinian state angers Israel and the US
- MMDA prepares for PH hosting of FIVB
- Taiwan: China illegally deploying oil rigs in its waters
