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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://ycyzqzxyh.com
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.
- 9 dead in Ecuador after bus plunges into ravine
- DMW: 19 distressed OFWs return home from Jeddah
- Japan govt seeks to triple spending on drones
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- CFO moves office from QC to Pasay
- DSWD program reduced hunger
- No winner in lotto draws for Aug 28
- More funding sought for sports commission
