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, This news data comes from:http://bo.erlvyiwan.com
He thanked President Ferdinand Marcos Jr. for supporting the measure.
The president on Saturday signed Republic Act 12252.
Escudero says new lease law to make PH more appealing to investors
This new law amends the Investors' Lease Act by extending the lease period limit of 75 years.
- PH eyes global partners in biggest railway project
- Xi says China 'unstoppable' in parade opening speech
- DPWH engineer in bribery scandal placed under preventive suspension
- Lacson to govt: Protect education budget
- Israeli protesters call for hostage deal ahead of cabinet meeting
- SC clarifies rules on land ownership
- Most Filipinos distrust China, see it as biggest threat — OCTA survey
- Gloria Arroyo files bill to empower Office of the Vice President
- Maduro calls for dialogue hours after Trump’s threat
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
