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.
Escudero says new lease law to make PH more appealing to investors
"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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://052298.com
- PH to see ‘blood moon’ Sept. 7-8
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Thailand acting PM moves to dissolve parliament — party
- North Korea test-fires two 'new' air defense missiles
- Students, faculty file complaint against Universidad de Manila president
- North Korean leader inspects new missile factory ahead of visit to China
- House resolution filed to investigate 'funders' of anomalous projects
- Comelec at 85: Garcia vows reforms
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Sotto files bill to amend party-list system
