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., This news data comes from:http://avkr.052298.com
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
- Palace suspends govt work, classes in several areas due to bad weather
- COA launches sweeping audit of flood control projects
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- South Korean prosecutors indict Yoon's wife, former PM
- France seized by fears of new political crisis
- Transport chief pushes shame campaign vs errant motorists
- North Korea test-fires two 'new' air defense missiles
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- Fears of new political crisis grip France
- China 'unstoppable', says Xi with Kim, Putin at his side
