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://xs888999.com
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
- Lookout bulletins out vs Atong Ang, Barretto
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- PH, Japan conduct search and rescue exercises
- North Korea test-fires two 'new' air defense missiles
- Labubu fans flock to stores after launch of mini dolls
- Marcos, first lady visit Cambodia to boost ties
- Modi, Ishiba agree to boost economic ties
- Van Gogh Museum 'could close' without more help from Dutch govt
- SEARCH WARRANT
- Marcos to youth: Help in nation-building
