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.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://052298.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Napoles guilty in another 'pork barrel' case, sentenced to 55 years in jail
- Gasoline, diesel prices to increase again next week
- ‘New NBI chief must be career official’
- Need to pee? Japan has QR code for that
- Indonesian finance minister's home looted as protest anger grows
- Anti-fake news bill filed anew in House
- Yemen's Huthis hold funeral for PM killed in Israeli strike
- Summer brings overtourism fears for 'Bavarian Caribbean'
- Kneecap to play Paris concert in defiance of objections
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
