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.
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://www.jyxingfa.com
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
- Opponents of Japan PM seek leadership contest
- Marcos says commission on DPWH anomalies to be finalized 'very soon,' mum on Magalong participation
- Search for survivors after Afghan earthquake kills 800
- Filipino fulfills dream of performing with K-pop group before home fans
- Sri Lanka ex-president Wickremesinghe hospitalized after arrest
- Planning via ‘gender lens’ to make cities more inclusive — expert
- Japan govt seeks to triple spending on drones
- No winner in Grand, Megalotto draws for Aug 27
- SSS rolls out historic pension reform program
- Philippines to launch shame campaign vs traffic violators
