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.
Escudero says new lease law to make PH more appealing to investors
"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.
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://redcanaco.com
- NATIONAL ARTIST'S HOMETOWN
- Cambodia MPs pass law allowing stripping of citizenship
- Inflation up 1.5% in August
- Drug war whistleblower Royina Garma returns to PH after US detention
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Israel expects 1 million Gazans to flee new offensive
- Hope dwindles for survivors days after deadly Afghan quake
- Maduro hits ‘illegal’ US troops deployment
- 15 companies vie for 'Sustainability Champions' award
