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://pt-xdla-fy-ii.771bg.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.
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Bonoan freezes DPWH travel passes
- GoTyme gives customers 20 free InstaPay transfers per month
- Drug war victims ready to face Duterte as ICC sets hearing on crimes against humanity
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Wildfires producing 'witches' brew' of air pollution – UN
- Israel city honors Quezon’s wartime rescue of Jews
- US church shooter 'obsessed with idea of killing children'
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
