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., This news data comes from:http://nkadhj.erlvyiwan.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
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Duterte party's acting chairman charged at Sandiganbayan over Malampaya project
- Pacifist Japan struggles to boost troops as China anxiety grows
- Pasig fire kills child, injures mother as she tries to save him
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Immigration: 1st lookout bulletin in effect on 35 individuals, including Discayas, linked to anomalous flood control projects
- Mexican boxer Chavez Jr. released from prison pending trial
- Customs recovers 10 more Discaya luxury cars
- US church shooter 'obsessed with idea of killing children'
- 100K Pakistanis flee amid flood threat
