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://jibd-ff-csay-jc.771bg.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
- Vatican puts Pope Francis' ecological preaching into practice with vocational farm center
- Harold Cabreros takes post as new OCD chief
- Tokyo logs record 10 days of 35 C or higher
- National Guard troops begin carrying weapons in US capital
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Discayas name lawmakers, DPWH officials involved in alleged extortion
- Trump health misinformation swirls despite denial
- Comelec to resume BARMM polls ballot printing Thursday
- Duterte lawyers take aim at ICC prosecutor
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
