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 news data comes from:http://www.jyxingfa.com
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- COA probes Iqbal on spending of P1.7B in one day
- Mexican boxer Chavez Jr. released from prison pending trial
- Isko Moreno files charges against contractor over illegal demolition of sports complex in Manila
- Thailand set for vote on new PM after dissolution bid rejected
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- Marcos confers diplomatic merit award on two ambassadors
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Lacson to govt: Protect education budget
- Indonesia turns down ear-splitting 'haram' street parties
