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, This news data comes from:http://gangzhifhm.com
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.
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- No winner in lotto draws for Aug 28
- Thailand's Parliament to vote Friday for a new prime minister
- Super Sale: Pag-IBIG offers 40% off on foreclosed assets
- Comelec to open nearly two-year overseas voter registration for 2028 elections
- ‘Large shark’ kills man off Sydney beach
- Duterte’s defense team outlines ICC strategy
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- 'God's Influencer' to become first millennial saint
- No winner in Grand, Megalotto draws for Aug 27
