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://bmu-cke-kyai-ii.052298.com
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.
- Marcos soon to create commission to probe flood control projects
- Trump tells Europe to put economic pressure on China over Ukraine
- Argentine police recover Nazi-looted painting spotted in property ad
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Anti-fake news bill filed anew in House
- Rise in HFMD cases due to better reporting, not outbreak
- Opponents of Japan PM seek leadership contest
