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://cpyxfi.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.
Escudero says new lease law to make PH more appealing to investors
- Thailand ruling party moves to dissolve parliament
- Chinese tourist city Sanya shuts down as typhoon intensifies
- Japan govt seeks to triple spending on drones
- China to bolster non-Western alliances at summit, parade
- Rise in HFMD cases due to better reporting, not outbreak
- Lacson clears air over conflict with Marcoleta on flood control probe
- Thousands protest in Indonesia as military deployed in capital
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Opponents of Japan PM seek leadership contest
- Senate subpoenas 8 DPWH officials, contractors in flood control probe
