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.
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, This news data comes from:http://www.yamato-syokunin.com
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Portugal mourns after Lisbon streetcar accident kills 15
- 'Pink and green' protests call for a reset in Indonesia
- Private groups back DHSUD chief's anti-corruption policy
- China to bolster non-Western alliances at summit, parade
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Thai Court: PM Shinawatra violated ethics rules
- PH, Australia, Canada hold joint sea drills
- De Lima bucks Lacson's budget 'experiment
- Washington makes military aid overtures to Sahel juntas
