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://www.705-888.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.
- Zelenskyy seeks talks with Trump and European leaders on slow progress of peace efforts with Russia
- Recto: No exemption for US tech firms from digital tax
- Thai woman jailed for 43 years for lese majeste freed
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Comelec upholds cancelation of Duterte Youth registration
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Planning via ‘gender lens’ to make cities more inclusive — expert
- Gaza at 'breaking point,' says UN food agency chief after visit
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
