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., This news data comes from:http://dd-vbw-rcv-apab.771bg.com
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.
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- SpaceX scrubs latest Starship launch due to bad weather
- Thai opposition holds kingmaking summit deciding new PM
- 40% of Filipinos are now obese, says Health expert
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- PH, Australia commend ‘impressive’ joint sea drills
- Alex Eala targets US Open Round of 32 in rematch against Spanish rival
- Afghan quake death toll surges to over 2,200
- 2 LPAs monitored inside PAR, bringing rain to Luzon
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
