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 news data comes from:http://vvu-js-qwgy-awyu.jyxingfa.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- DOJ indicts Abra Mining for fraudulent trading
- Bersamin letter proves Torre reassignments ‘valid’
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- NATIONAL ARTIST'S HOMETOWN
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Rise in HFMD cases due to better reporting, not outbreak
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Go seeks more support for Filipino athletes
- MMDA readies for FIVB men’s volleyball
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
