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 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, This news data comes from:http://erlvyiwan.com
- UK, Japan, South Korea endure hottest summer on record
- 2 Marikina policemen accused of molestation
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- ₱1.7M shabu seized in Taguig buy-bust
- DPWH engineer in bribery scandal placed under preventive suspension
- Marcos signs laws creating more court branches
- Navotas holds anti-plastic drive
- UK refuses to invite Israeli government officials to London arms fair over the war in Gaza
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- 2028 polls overseas voter registration opens in Dec
