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.
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://usk-ole-uvgv-cuv.771bg.com
Escudero says new lease law to make PH more appealing to investors
- Transport chief pushes shame campaign vs errant motorists
- Diokno urges Philippines to rejoin ICC to counter China's aggression
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- 40% of Filipinos are now obese, says Health expert
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
- Leviste files charges against DPWH engineer who tried to bribe him
- Public Works chief to press criminal charges against Bulacan engineer
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Metro Manila, rest of Luzon would be rainy due to ‘habagat’ —Pagasa
- DOJ indicts Abra Mining for fraudulent trading
