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.
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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://bexetl.redcanaco.com
- National Guard troops begin carrying weapons in US capital
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- Gomez-Estoesta named court administrator by Supreme Court
- WorldSkills Asean Manila begins
- House justice panel to probe US' extradition request for Quiboloy
- Sotto files bill to amend party-list system
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Manila mayor warns against mobs, orders police to maintain peace and order
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- China's Communist rulers push party role before World War II anniversary
