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://erlvyiwan.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
Escudero says new lease law to make PH more appealing to investors
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.
- Villanueva: Regularize contractual govt workers
- Maduro hits ‘illegal’ US troops deployment
- Signal No. 1 up in 13 areas; Isang to leave PAR as tropical storm
- Macron's decision to recognize Palestinian state angers Israel and the US
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Taiwan: China illegally deploying oil rigs in our waters
- Harold Cabreros takes post as new OCD chief
- India to probe giant zoo run by son of Asia's richest person
- Fears of new political crisis grip France
- Marcos orders full budget review for DPWH amid ghost projects scandal
