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
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://yegspsf.erlvyiwan.com
- Kris Aquino is alive, says friend amid reports of death
- Heavy rains flood parts of Metro Manila anew
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- Social pension eyed for indigent seniors
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- De Lima bucks Lacson's budget 'experiment
- Japan accelerates missile deployment amid rising regional tensions
- Sara favors punishing officials, lifestyle checks
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
- President Marcos to attend 80th UN General Assembly in New York
