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
He thanked President Ferdinand Marcos Jr. for supporting the measure., This news data comes from:http://qqbf-bhkq-dgq-br.705-888.com
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.
- No Filipino fatalities in New York Tour-Bus crash, says DFA
- North Korea's Kim in China ahead of massive military parade
- Marcos to mark ‘Thrilla In Manila’ 50th anniversary
- UN: Rising heat 'severely' impacting workers' health
- Pacifist Japan struggles to boost troops as China anxiety grows
- 'Ondoy'-level rains swamp Quezon City
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Youth group asks SC to stop postponement of SK polls, cites age-limit concerns
- In Taiwan, competing narratives over the meaning of China's massive military show
- Trump plans a hefty tax on imported drugs, risking higher prices and shortages
