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.
Escudero says new lease law to make PH more appealing to investors
The president on Saturday signed Republic Act 12252., This news data comes from:http://www.jyxingfa.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Jollibee, DepEd partner to develop quick service restaurant curriculum for senior high
- Need a pee? Japan has QR code for that
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Trump moves to limit US stays of students, journalists
- Aid flotilla with Greta Thunberg set to sail for Gaza
- DoJ to begin preliminary investigation into missing cockfighting enthusiasts
- Nartatez rules out 'quota' arrests
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- What to know about Indonesia's nationwide unrest over lawmakers' perks
