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.
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., This news data comes from:http://www.xs888999.com
- Zelenskyy meets European leaders on Ukraine security guarantees
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Indonesia, US and allies launch joint military drills
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- MMDA readies for FIVB men’s volleyball
- Navotas inks deal for school feeding project
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Support grows for independent probe into flood control projects
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
