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, This news data comes from:http://sm-yu-ybb-uoj.redcanaco.com
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.
Escudero says new lease law to make PH more appealing to investors
- Vietnam marks 80th independence anniversary with huge parade
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Mexican drug lord faces life in prison after pleading guilty in US court
- Berlin urges Israel to 'immediately' improve humanitarian conditions in Gaza
- US senators to reinforce 'partnership' with Taiwan
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Putin facing mounting pressure from the West
- Xi slams 'bullying' in speech to regional leaders at summit
