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.xs888999.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
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- Former Bulacan district engineer admits going to casinos
- China 'unstoppable', says Xi with Kim, Putin at his side
- Govt debt swells to record P17.58T
- SC orders comment on petitions vs polls
- May 12 poll results accurate, credible - OCTA Research
- Macron's decision to recognize Palestinian state angers Israel and the US
- Comelec defers reconstitution of BARMM parliamentary districts
- China races to build world’s largest solar farm
