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.
Escudero says new lease law to make PH more appealing to investors
"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 news data comes from:http://xs888999.com
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- Supreme Court urged to act on fake complaints
- Manila mayor warns against mobs, orders police to maintain peace and order
- Navotas holds anti-plastic drive
- 9 dead in Ecuador after bus plunges into ravine
- Oil firms to raise fuel prices this week
- Sen. Go files bills to push health, social, and labor reforms
- DILG denies allegations that PNP chief fired over firearms deal
- DILG to roll out nationwide unified 911 hotline on Sept. 11
- China to bolster non-Western alliances at summit, parade
- Malacañang calls plot to jail VP Duterte 'wild imagination'
