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.
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., This news data comes from:http://pp.ycyzqzxyh.com
- Escudero subpoenas 5 contractors, 3 DPWH executives to Senate probe
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Lacson: DPWH exec sought ‘insertions’
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- LPA may still develop into short-lived tropical cyclone
- Trump stamps 'dictator chic' on Washington
- Public Works chief to press criminal charges against Bulacan engineer
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Maduro calls for dialogue hours after Trump’s threat
