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://aichuwei.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.
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- Israeli defense minister warns of Gaza City's destruction unless Hamas yields to his country's terms
- US strike marks shift to military action against drug cartels
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- Escudero subpoenaes 10 DPWH contractors for Senate probe next week
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- DILG suspends classes, gov’t work in 17 areas
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- Ukraine offers to co-produce drones with Philippines for maritime patrols
