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.
Escudero says new lease law to make PH more appealing to investors, This news data comes from:http://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.
- Appointments panel holds first session
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Comelec to resume BARMM polls ballot printing Thursday
- Searchers retrieve bodies as Afghan quake toll seen to rise
- Australia's mushroom murderer faces victims' family in court
- Marcos opens Hyundai's shipyard in PH
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Globe partners with unconnected.org to provide remote schools with sustainable internet connectivity
- Pakistanis no reprieve from floods yet
