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.
The president on Saturday signed Republic Act 12252., This news data comes from:http://www.xs888999.com
Escudero says new lease law to make PH more appealing to investors
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
- Sen. Go files bills to push health, social, and labor reforms
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- WorldSkills Asean Manila begins
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Argentina hunts Nazi-looted painting revealed in property ad
- Firefighters arrested by US immigration officials
- DPWH to revisit budget, to complete revisions within 2 weeks
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- Police officers face more charges in missing cockfight enthusiasts case
- 1 in 4 people lack access to safe drinking water — UN
