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, This news data comes from:http://052298.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
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
- De Lima bucks Lacson's budget 'experiment
- Palace hits Discayas over ‘misinformation’ on PH film center project
- PNP enlists Interpol help in hunt for Japanese mastermind behind Manila double murder
- Marcos 'ready' to undergo lifestyle check- Palace
- Peace efforts in limbo as Kyiv mourns 23 dead
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- International media protest over journalist deaths in Gaza
- 'Large shark' kills man off Sydney beach
- Task force cites new threats to media workers
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
