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
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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://kct-psk-xm-bka.jyxingfa.com
- DPWH told to build evacuation centers
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Israel expects 1 million Gazans to flee new offensive
- Malabon averts crisis with garbage deal
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- CFO office moves from Quezon City to Pasay
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Thai woman jailed for 43 years for lese majeste freed
- N. Korea test-fires two 'new' air defense missiles
- MMDA readies for FIVB men’s volleyball
