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://nvdir.jyxingfa.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.
- Pump prices increase for 2nd straight week
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- Marcos urged to raise WPS resolution at UN
- Trump moves to limit US stays of students, journalists
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Indonesia protests put spotlight on paramilitary police force
- WorldSkills Asean Manila begins
- DILG denies allegations that PNP chief fired over firearms deal
- ‘New NBI chief must be career official’
- DOJ indicts Abra Mining for fraudulent trading
