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 news data comes from:http://ojk-ak-clvh-hig.yamato-syokunin.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Malabon averts crisis with garbage deal
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- Comelec defers BARMM district reconstitution
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Anti-fake news bill filed anew in House
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Four children killed by parents in Dominican Republic — police
- Puno seeks probe of anomalous projects ‘funders’
- France seized by fears of new political crisis
