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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://nwvd-yiga-cym-ca.ycyzqzxyh.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.
- Former Bulacan district engineer admits going to casinos
- DBP launches P50M program for education
- Marcos soon to create commission to probe flood control projects
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Japanese climber, 102, sets Mount Fuji record
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Japan accelerates missile deployment amid rising regional tensions
- Ballots for oct 13 BARMM polls completed – Comelec
- Israel expects 1 million Gazans to flee new offensive
