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, This news data comes from:http://bek-uvj-lum-ola.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.
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Israel launches new spy satellite in 'message' to enemies
- 'Isang' leaves PAR, storm signals lifted - Pagasa
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- Vico Sotto could challenge VP Sara in 2028 race – survey
- Comelec completes ballot printing for Bangsamoro elections despite redistricting dispute
- Mexican drug lord faces life in prison after pleading guilty in US court
- Bersamin letter proves Torre reassignments ‘valid’
