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.
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://vgq.052298.com
- Marcos orders lifestyle checks on all government officials amid flood control probe
- LTO summons driver who berated enforcer
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- MMDA readies for FIVB men’s volleyball
- Xi says China 'unstoppable' in parade opening speech
- Eala ousts Day, enters Guadalajara Open final
- Japanese climber, 102, sets Mount Fuji record
- Lacson to give Dizon 'damning' proof vs DPWH 'rotten fruits'
- 1 in 4 people lack access to safe drinking water — UN
