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.
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.
Escudero says new lease law to make PH more appealing to investors
- Lacson: DPWH exec sought ‘insertions’
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Judge reverses Trump administration's cuts of billions of dollars to Harvard University
- Prime minister of Yemen's Houthi-run government killed in Israeli strike
- Comelec delays implementation of decision disqualifying Duterte Youth Party-List
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Pope Leo meets LGBTQ+ Catholic advocate and vows continuity with Pope Francis' legacy of welcome
- PH Construction Board asked to address 'accreditation for sale' scandal
- Plea written in blood saves Chinese woman trapped in locked room
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
