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://anc-xnhv-ib-kpws.gyglfs.com
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
- Israel ups pressure on Gaza City
- DPWH exec asked lawmaker to make budget insertions — Lacson
- La Niña may return but temperatures will remain high, UN says
- House starts flood control probe
- DPWH opens foreign-assisted projects to LGUs
- Israel launches new spy satellite in 'message' to enemies
- Thai tycoon takes office as PM after royal endorsement
- Israel military says controls 40 percent of Gaza City
- Russia hits seat of Ukraine government in war's biggest air attack
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
