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.
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years., This news data comes from:http://jyxingfa.com
- Thai tycoon takes office as PM after royal endorsement
- Marcos suspends importation of regular, well-milled rice for 60 days
- DBP launches P50M program for education
- 'Perfect storm': UK fishermen reel from octopus invasion
- Police general suspended for ‘obstruction’ of evidence in case of missing sabungeros
- EU massive fine against Google draws Trump’s ire
- Afghanistan earthquake kills more than 800
- Japan PM decides to quit as opponents seek leadership election: reports
- ‘40% of Filipinos obese’
- No winner in Ultra, Megalotto draws for Sept 5
