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., This news data comes from:http://xe-aqb-yjby-gvt.gangzhifhm.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.
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- China to bolster non-Western alliances at summit, parade
- Former Bulacan district engineer admits going to casinos
- Lacson to govt: Protect education budget
- Batangas engineer suspended after alleged bribery attempt on congressman Leviste
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- House resolution filed to investigate 'funders' of anomalous projects
- Portugal mourns after Lisbon streetcar accident kills 15
- Some areas in Metro Manila, 5 provinces to have power interruptions due to maintenance works
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
